Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Mortgage Activity

While the value of new loans dipped this month, refinancing has skyrocketed to an all-time high in June.

Latest figures from the ABS show the total value of refinanced loans hit $16.24 billion in June, up $1.37 billion in just one month, in seasonally adjusted terms.

That $16.24 billion figure is made up of a record&nbsp;$10.84 billion&nbsp;from owner occupier&#39;s refinancing, up 112% on a year ago, and&nbsp;$5.41 billion from investors, up 67% year on year.

[smartcode_project:default project_id=26734 project_image_fid=153694]

Refinancing has risen sharply in recent months, fuelled by record low rates. COVID has also prompted many families overhaul their finances.

In the past 12 months, $151.12 billion worth of mortgages have been refinanced, in seasonally adjusted terms.

RateCity.com.au research director, Sally Tindall, said the record high in refinancing in June suggested mortgage holders were racing to lock in low rates in case they rise.

&ldquo;At the start of COVID, we saw a spike in refinancing as people rushed to lock in a competitive rate. COVID was a wake-up call for people to get their finances in order, and banks were at the ready, handing out some of the lowest rates in history,&rdquo; she said.

&ldquo;Over a year later and we&rsquo;ve now hit a new record high, although this time, the surge is more likely to be fuelled by a fear of missing out.&quot;

&ldquo;In the last five months, dozens of lenders, including the big four banks, have hiked many of their longer-term fixed rates. Taking these record-low fixed rates off the table has been the push some people needed to refinance,&quot; she added.

The latest figures from the ABS show the total value of refinanced loans hit $16.24 billion in June, a new record high

jordan_55689

Mortgage refinancing is hitting record highs: RateCity

<html><body>
Mortgage holders are continuing to refinance their home loans as banks fight for market share as interest rates continue to hold at record lows.
There's no suggestion from the RBA that rates will change until at least 2022 as the central bank attempt to drive the economy.
And as fixed rate mortgages expire, more and more mortgage holders are likely to refinance.
<img src="https://www.urban.com.au/images/2020/9/14/Refinancing.png" alt="">
According to CoreLogic's early market indicators, refinancing mortgages have rose 1.4 per cent.
That takes refinancing up over 23 per cent year on year.
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.
And CoreLogic has seen a -42 per cent decline over the week in MIP reports, which is reports for a mortgagee in possession valuation..
<h1>Newly Advertised Properties</h1>
Newly advertised properties were up 2.41 per cent over the week, according to CoreLogic's database.
New listings however are still -5.6 per cent down over the month.
Rental listings are up 5.2 per cent, again still down over the month.
<img src="https://www.urban.com.au/images/2020/9/14/Newly%20advertised%20property.png" alt="">
<h1>Pre-listing Activity</h1>
There's been a small rise in pre-listing activity, which CoreLogic define as more comparative market analysis reports being generated through their platform.
This report is essentially an indicator of new listings on the horizon.
<img src="https://www.urban.com.au/images/2020/9/14/pre-listing%20activity.png" alt="">
 
 
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jrobinson-rf4aSBido9

Refinancing mortgages continue to rise as new listings also up: CoreLogic's weekly snapshot

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Mortgage activity is up 10 per cent on this time last year, according to CoreLogic's new Early Market Indicators report.
Through to the week ending June 28, activity was up 10.33 per cent on the same time in 2019.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/6/30/Mortgage%20activity.jpg" target="_blank">click here</a>.
<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/2020/6/30/Mortgage%20activity.jpg" alt="">
 
Unsurprisingly the uptick in mortgage activity has been driven by mortgage holders refinancing given record low interest rates.
Mortgage holders refinancing are up 33 per cent over the same week last year. Refinancing made up 68 per cent of new mortgages written week ending June 28.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/6/30/Loan%20Purpose.jpg" target="_blank">click here</a>.
<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/2020/6/30/Loan%20Purpose.jpg" alt=""> 
New mortgages written are up 11 per cent over the same week in 2019. 
 
 
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wdavis-8cCN98p7xp

Mortgage activity up 10 per cent, driven by refinancing: CoreLogic

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EXPERT OBSERVATION
Demand for fixed rate home loans was stable in October, reveals data from Mortgage Choice.
According to the Company’s home loan approval data, demand for fixed rate home loans has stalled, accounting for 14% of all home loans written throughout the month of October, the same proportion as the month prior.
Our home loan data reveals that despite extremely competitive fixed-rate pricing, borrowers are reluctant to lock in a fixed rate. The level of demand for fixed rate home loans has not changed in four months and is significantly lower year on year. In fact, fixed rate loans accounted for a quarter of all home loan demand in October 2018.
In the current low-rate environment, we are seeing interest rates on fixed-rate home loans fall below 3% p.a., which makes it even more surprising to see fixed rate demand hover at levels not seen in eight years.
That being said, speculation is rife that the Reserve Bank of Australia will cut the cash rate a fourth time this cutting cycle, which would be reason enough to keep borrowers from locking in.
Demand for fixed rate loan products varied across the country. Borrowers in Victoria were the least likely to fix, with only 7% of borrowers locking in their rate, followed by Western Australia where 8% locked into a fixed rate product.
Meanwhile, borrowers in New South Wales were the most likely to choose a fixed interest rate home loan, with 18% choosing this loan, followed by borrowers in South Australia, where 17% chose to fix.
I suspect fixed rate demand is likely to remain at the same levels into the new year.
With such low interest rates on offer, now could be a great time to lock into a fixed rate home loan or make the decision to fix part of your home loan so can enjoy the best of both worlds. Ultimately, the answer to the fixed versus variable debate will come down to each borrower’s unique financial situation, needs and long-term goals.
My advice to borrowers who foresee a change to their income or face the possibility of budget constraints would be to speak to their mortgage broker. If you seek the comfort of knowing that you will have home loan repayment certainty, a fixed rate loan might be the right option for you.
That being said, if you want to take advantage of rate drops, a variable rate home loan might be a more suitable choice. We have seen variable rate home loan interest rates fall significantly off the back of three cash rate cuts from the Reserve Bank of Australia. If the RBA cuts the cash rate again, we could see variable rates drop even further.
Borrowers who are deciding whether to opt for a home loan with a variable, or a fixed interest rate would be well advised to speak to their local mortgage broker to discuss their options.
SUSAN MITCHELL is the Mortgage Choice Chief Executive Officer
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j.ballantyne1990-6AQqhLzZaK

Fixed rate home loans remain unpopular: Mortgage Choice's Susan Mitchell 

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EXPERT OBSERVER
The latest ABS data on new housing credit showed a sharp rise in the value of home loan commitments, driven by a surge in owner occupier lending as well as a smaller rise in investment lending.
The rise in the value of owner occupier housing finance commitments over the September quarter (+12.1%) was the fastest quarter-on-quarter gain since the September quarter of 2015 (13.7%), taking the value of new owner occupier home loan commitments 17.3% higher since bottoming out in May earlier this year.
Growth in investment lending hasn’t been quite as strong, however the value of investment loan commitments was up 6.0% over the September quarter, which was the fastest gain since the December quarter of 2016.
The value of investment loan commitments is now 8.4% higher than the May 2019 trough.
With owner occupier credit outpacing investment credit, investors now comprise the lowest portion of housing loan commitments since the ABS records commence in 2003, currently tracking at 24.8% of the value of new mortgage commitments.
In contrast, shortly after the first round of macro-prudential rules were introduced in December 2014, investors comprised 43% of national mortgage demand. The trends in housing credit are similar across the states, with the value of owner occupier loan commitments generally outpacing investors.
Click <a href="https://www.propertyobserver.com.au/images/2019/11/14/Mortgage%20volumes%201.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%201.JPG" alt="">
New South Wales The value of owner occupier loan commitments was up 12.3% over the September quarter, compared with a 3.3% rise in investment.
Although investment credit growth is slower, NSW has the largest concentration of investment activity across the states, with investors comprising 30.5% of mortgage demand based on value.
First home buyers have surged higher over the past couple of years, as stamp duty exemptions and lower housing values have encouraged first timers back into the market.
First home buyers have comprised more than 25% of owner occupier mortgage demand since March this year, more than double the proportion of first home buyers prior to the market peak.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%202.JPG" alt="">
Victoria The value of owner occupier home loan commitments was 11.3% higher over the September quarter, compared with a 10.6% lift in investment lending.
Non-first home buyers drove the quarterly gains, with the value of loans up 13.4%, compared with a 9.2% rise in first home buyer lending.
The value of investor loan commitments remains almost 9% below the level a year ago, however Victoria is showing the second largest concentration of investors (after NSW), comprising 25.2% of mortgage demand in September.
First home buyers have been holding above 30% of owner occupier mortgage demand since February this year.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%203.JPG" alt="">
Queensland Investors are driving the largest increases in the value of mortgage activity, with the value of investor loans up 12.5% over the September quarter, compared with a 8.4% lift in owner occupier lending.
Despite the larger rise in investment lending, investors comprise only 17.9% of mortgage demand across Queensland, the second lowest proportion across the states (after WA).
First home buyers showed a larger lift in the value of lending over the quarter, up 11.1% compared with a 8.4% increase in the value of non-first home buyer loans.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%204.JPG" alt="">
South Australia Non-first home buyers are driving mortgage demand across South Australia, with the value of mortgage commitments up 10.8% over the September quarter, compared with a relatively flat 0.8% lift in first home buyer lending and a 1.3% increase in investment lending.
First home buyers have seen a stronger result over the past year, with the value of loans up 9.4%.
The September data showed investors comprised 21.9% of mortgage demand, which was well below the decade average of 29.9%.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%205.JPG" alt="">
Western Australia Mortgage activity is finally showing an upwards trend across Western Australia, with the value of owner occupier lending up 15.8% over the September quarter, while the value of investor loans surged 24.1% higher.
The quarterly result was the strongest gain for owner occupier lending since 2009 and the surge in the value of investment loans was the highest since 2005.
Mortgage lending is rising from a very low base, especially across the investor segment, after a prolonged period of weak credit growth.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%206.JPG" alt="">
 Tasmania Mortgage lending was positive on an annual basis across each of the broad market segments, driven by a surge in investment lending over the quarter (+32.4%) and a less substantial 26.2% lift in the value of owner occupier loans.
Tasmania was the only state to record an annual lift in the value of mortgage commitments across each of the broad market segments.
 
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%207.JPG" alt="">
Northern Territory The value of mortgages was down over the quarter and over the year across each of the broad market segments.
Over the past year, investor mortgage commitments were down the most (-30.5%), with a large fall across the first home buyer segment as well (-29.7%).
With housing values around 31% below their peak across the NT, first home buyers are taking advantage of very healthy levels of housing affordability, showing the highest concentration of any State or Territory across the NT, comprising 38.2% of owner occupier demand based on the value of new commitments.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%208.JPG" alt="">
Australian Capital Territory The value of owner occupier mortgage commitments was up 20.7% over the September quarter, driven by a surge in first home buyer activity where the value of lending jumped 75% higher.
The value of mortgage lending across the larger non-first home buyer sector of the market was up 10.3% and investment lending was 9.5% higher over the quarter.
The rebound in new housing credit flows is running in parallel with increased buyer activity and rising residential property values.
<img src="https://www.urban.com.au/images/2019/11/14/Mortgage%20volumes%209.JPG" alt="">
According to CoreLogic’s Home Value Index, national dwelling values bottomed out in June this year, the same month that housing credit started to rise.
The improved credit flows have been supported by APRA’s decision to relax borrower serviceability rules, as well as the lowest mortgage rates since at least the 1950’s.
The flow of new credit is likely to be a key factor monitored by policy makers.
Any sign of a material rise in speculative buying activity, higher household debt or a slip in lending standards could be met by another round of macroprudential credit tightening, however at the moment, despite the recent surge in housing credit, investors remains underrepresented in the market and overall credit growth (based on the RBA credit aggregates) remains subdued, implying a strong focus on debt reduction from households.
The next round of APRA statistics providing an insight into key metrics covering riskier areas of lending such as the proportion of interest only loans and the proportion of high LVR lending is due out next month.
These statistics should provide some further guidance around any regulatory response that could impact on housing credit activity.
TIM LAWLESS is the CoreLogic head of research.
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New mortgage commitment values rising sharply: Tim Lawless

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Mortgage brokers settled 59 per cent of residential home loans in the 2018 September quarter, which was up from 53 per cent in the same quarter of 2017.
The escalating credit crunch implemented by the big banks in the wake of the banking royal commission triggered the largest year-on-year increase for any quarter over the last four years. 
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The data from CoreLogic also revealed that settled broker volumes slipped between the September 2017 and September 2018 quarters from $51.77 billion to $50.19 billion, a three per cent fall.
Mortgage brokers provide their potential clients access to a panel of 34 lenders on average.
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The new statistics reporting a sharp rise in broker market share came from the research group Comparator, a CoreLogic business.
Deloitte Access Economics issued a report last July which said the industry employed an estimated 22,215 people, which included 14,230 active brokers and 7,985 support staff.
Mortgage brokers, on average, have 13.8 years of experience in the industry.
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Australian mortgage brokers are settling 59 per cent of residential home loans

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Both Queensland and Victoria has the highest month on month change for mortgage market activity, according to CoreLogic’s latest weekly report.
The property data firm says that both Queensland and Victoria’s mortgage market activity has increased by 6 percent.
<a href="/images/2016/12/05/Mortgage%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Mortgage%20market%20activity.jpg" alt="">
This is compared to New South Wales with the lowest increase of only 1 percent.
On a month to month trend basis, however, Tasmania has the highest increase of 5 percent.
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Queensland and Victoria's mortgage market activity increases by 6 percent

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Darwin has the highest median time on market out of all capital cities, according to CoreLogic’s latest weekly report.
On average, a house at Darwin can expect to be on the market for 104 days, while units take 113 days to sell.
The average vendor discount in the city is the highest, with an 8% discount for homes and a 9% discount for units.
<a href="/images/2016/10/31/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Capital%20city%20median%20time.jpg" alt="">
This is in contrast to Sydney, where the average home will sell after being on the market for 28 days, while units will sell after only 27 days.
Similarly, the average vendor discount in the harbour city is low – 4% for both a home and a unit.
Western Australia has the highest month on month change for mortgage activity with a recorded 4% increase to 101.2 on the index value.
However, this still represents a decline in the month on month trend line by more than 4%, as the city's market attempts to recover form a post mining boom slump.
<a href="/images/2016/10/31/Mortgage%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Mortgage%20market%20activity.jpg" alt="">
Tasmania had the highest decline for month on month (4%), resulting in an index value of 84.8.
South Australia has seen the highest growth in listing market activity with an increase of 6% month to month with a seasonal change increase of 1%.
<a href="/images/2016/10/31/Listing%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Listing%20market%20activity.jpg" alt="">
Overall, the listing market activity for all capital cities have declined by 1% despite a seasonal increase of 1% to balance it out.
The biggest decline was in Tasmania, where the month to month change declined by 9%.
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Darwin's median time on market exceeds 100 days for houses and units: CoreLogic

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Mortgage market activity has decreased, according to CoreLogic, especially in Queensland and WA.
<a href="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%2011.42.52%20AM.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%2011.42.52%20AM.jpg" alt="">
 
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