Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Mortgage Brokers

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The mortgage lender insurer Genworth says the housing market is likely to continue to moderate.
It came as its first-half profit more than halved.
Total portfolio delinquencies only rose 0.3% to $7.3 million, while the portfolio delinquency rate rose just 0.03% to 0.54%.
Genworth, which provides insurance to lenders against the risk of borrowers defaulting, posted a $41.9 million profit for the six months to June, down 52.8% on the same period a year earlier.
Genworth said it expected the moderating trend to continue in the second half of the year, due to macro-prudential measures, tightening credit standards and record levels of new housing supply coming onto the market.
“Metropolitan housing markets in Sydney and Melbourne are predicted to lead the trend whilst the rate of ­decline in regions linked to the mining resource industry in Queensland and Western Australia, is expected to stabilise,” chief executive Georgette Nicholas said.
The company said it was making progress as it looked to evolve in the face of changing borrower and lender expectations, resulting from technology and regulatory change.
“Our first-half results are in line with our guidance and reflect the fact that 2018 will be a transitionary year as the impact of our 2017 annual premium earning pattern review is felt and we continue to implement strategic initiatives designed to redefine our core business model and diversify our revenue streams,” Nicholas said.
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j.ballantyne1990-6AQqhLzZaK

Genworth sees further housing market moderation

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EXPERT OBSERVATION
The prevalent practice of property investment firms sharing undisclosed kickbacks amongst the supply chain involved in development sales will be outlawed in NSW on 1 July this year under the Real Estate Reform being handed down by regulators in NSW. 
The conflict of interest frequently arises when a mortgage broker, accountant or financial planner receives part of the commission from the property firm, who receive their fees from the developer or seller. 
As such, this puts the broker into a position by which they are being paid on both sides of the fence. From the activities the undertake on behalf of the buyer and again from the filter down of fees from the seller. Until now this has been a grey area and there was nothing stopping this practise. 
For decades, property investment firms have been recommending off- the-plan properties to investors and receiving commissions or kickbacks from developers, and passing those on to referrers. 
Property investment firms commonly pass some of their commission on to the mortgage broker, accountant or financial planner as a reward to them for passing on the referral. This means that many brokers or financial service providers are making significant amounts of money just to refer on to a property firm, often totalling hundreds of thousands of dollars a year.
New property industry reform Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will be in force from July this year and will prohibit this practise, unless the broker or referring partner also holds a real estate industry license. Which will be a full Diploma course as of July. 
Under the new laws, if the broker takes a referral fee from the property firm, they will have to be a licensed real estate agent and also hold a Corporation’s license under the ACT. Subsequently, every transaction that they receive a referral fee from they will be putting their license up against the transaction and taking full liability for the conduct, practises and outcome of that transaction, ever if they have little to do with the transaction, they are a party to it financially and therefore take as much risk as everyone else in the transaction.
Some well-known mortgage broking firms openly admit to receiving $5,000-$10,000 per referral in their pocket. This is effectively a conflict of interest as the buyer is a client of the brokers, but the fee that comes down from the investment firm is from the seller - the developer.
Assuming in some circumstances a broker may also hold a real estate license, under the legislation this raises issues around the ethics of receiving fees to act on the buyers’ behalf as their broker but then receiving a fee from the property firm who get their fees from the seller or developer.
So, if a referrer does hold a real estate license, and does receive a part of the sale commission, they may find themselves in breach of the ethical requirements under the act.
Anna Porter is the founder of Suburbanite. She is a property valuer, investment adviser, property market commentator and author of Whistle<a class="OWAAutoLink" href="https://suburbanite.us8.list-manage.com/track/click?u=7a39cb442b7616568d1d3fe0f&amp;id=20aa9e77e0&amp;e=342d2b93ab" target="_blank"> </a>Blower.
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jrobinson-rf4aSBido9

Common broker practise now outlawed: Anna Porter

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Mortgage Choice has strongly refuted allegations in the media that its current franchise model encourages poor behaviour or practices.
 The company has robust compliance processes and credit policy controls in place that franchisees are required to adhere to, Susan Mitchell, CEO of Mortgage Choice said.
 “Our franchisees are very diligent and want to do the right thing for their customers. 
"We take any allegation of fraudulent behaviour extremely seriously and we have a very thorough and structured compliance regime in place.  
<iframe src="https://www.youtube.com/embed/PX1QGbvt4z8" frameborder="0" width="360" height="365"></iframe>
 “The wellbeing of our franchisees is our number one concern. We provide any business owner experiencing hardship with personalised support, including from our field-based teams. 
"We are well progressed in consulting with franchisees on a new remuneration model that will help them to succeed and invest in growing their businesses.”  While Mortgage Choice believes brokers in the network still highly value the services the company provides, it acknowledges that the balance between services offered and remuneration provided needs adjusting.  Mortgage Choice is in advanced discussions with franchisees and is aiming to have a new remuneration model in place by August 2018.   Mortgage Choice is not subject to any legal action, the broker pointed out.
The broker issued a video. 
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Mortgage Choice denies franchise model encouraged poor lending practices

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The online mortgage marketplace, HashChing has partnered with global information solutions company, Equifax, that will provide its brokers with efficient, secure digital access to their clients’ complete 90-day transaction history.
The new service will automatically arrange any income and expense items within into 91 individual categories and flag risk factors, before they start filing for a loan. 
It will enable a more accurate understanding of an applicant’s financial position, allowing brokers to recommend the best loan products for individual borrowers.
<div>
The HashChing chief Mandeep Sodhi, said he anticipated brokers will" feel better supported and have the tools needed to deliver an improved customer experience."
Specifically, they will be able to turn loan proposals around faster, make better and more accurate loan product decisions, identify and avoid fraud, and help borrowers capture all relevant income and expenses.
“This will assist in protecting households from unnecessary mortgage stress by helping ensure they aren’t taking on loans that they can’t repay.”
HashChing anticipates automating the collation of bank statements and categorisation of income and expenditure receipts will save its brokers an average of 45 minutes especially when there are multiple bank accounts and multiple applicants.
The new approach uses state of the art MOGO technology, enabling the automatic collection and categorisation of income and expense receipts in an instant.
HahChing's Sohi had suggested it "had been near impossible to ensure a borrower is complying with regulations by disclosing all income and expenses."
The move follows the current Royal Commission into Australia’s major banks that found that often brokers failed to accurately verify a borrower’s income.
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Accurate credit checks become crucial following Royal Commission: HashChing

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People power is the only way to send the big banks a message, says RateCity spokesperson Sally Tindall.
New research has revealed the average home loan customer could save $82,000 by switching from a big four bank, to a low rate online lender.
The comparison site RateCity is urging home loan customers unhappy with the behaviour of our major banks to shop around. 
New calculations show a family with a $350,000 loan looking for a fully-featured mortgage, could save up to $82,118 over the life of their loan, by going with the lowest comparable online lender, instead of a major bank.
RateCity spokesperson Sally Tindall said the only way to give the majors a wake-up call is to vote with your feet. 
“The big four banks have an incredible 75 per cent share of the home loan market.
"If you’re fed up with what’s coming out of the Royal Commission, now could be the time to switch.
“Online lenders are increasingly putting fully-featured loan products on the table – at significantly lower rates,” she said.
For example, the big four advertise fully-featured loans for about 4.5 percent, along with a hefty package fee of $395 a year, while some of the smaller lenders are offering fully-flexible loans for as little as 3.49 per cent, complete with a 100 per cent offset account and no ongoing fees.
Low rate online lenders with offset accounts
<img src="https://www.urban.com.au/images/2018/6/6/Low%20rate%20lenders.png" alt="">
 
Roughly 30% of lenders in the RateCity database are online.
Australia’s fifth largest home loan lender is online only (ING).
While nine of the 10 lowest rate lenders in the RateCity database are online lenders.
To find the best home loan for you it is recommended that you use a comparison site such as RateCity.com.au to research online lenders which including ratings for each product, find out what services each provider offers to field customer enquiries, test out their call centre and online chat service as well as reading online reviews, in particular social media feedback and it is of vital importance that they have a comprehensive website, check carefully for hidden fee's or charges as these are big red flags.
Mozo suggest some 7 in 10 home borrowers who have haggled their lender for a better home loan interest rate have received one.
According to research from Mozo.com.au, the comparison site consumers are far more comfortable haggling at the shops on a new fridge or television rather than their home loan, despite seven times the potential savings from home loan haggling, Mozo research has found.  
Mozo research indicates there is little reward for being a loyal mortgage customer unless you are actively pushing for a better deal on a regular basis.  
With 44% of mortgage holders currently on a home loan rate above 4.00%, there is plenty of room to haggle. More than half of the lenders in the Mozo database are now offering a rate under 3.70%. 
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Home loan customers can save $82,000 by switching from a big four bank

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ASIC has permanently banned mortgage brokers Xiaoyi (Jeff) Zhao, Jun (Leo) Ma and Liang (Victor) Zhang from engaging in credit activities.
Messrs Jeff Zhao and Leo Ma were mortgage brokers and directors of Sydney Global Investment Pty Ltd, which formerly operated a finance brokerage business in Sydney that traded as X Finance Group.  Mr Victor Zhang was also a mortgage broker and lending manager at X Finance Group.
ASIC found that between July 2015 and February 2016 Messrs Zhao, Ma and Zhang were knowingly or recklessly involved in the provision of false employer letters and/or pay slips to Westpac Banking Corporation to support 21 home loan applications lodged on behalf of customers of X Finance Group. 
<ul>
<li>ASIC found that the companies nominated in the letters and payslips were based in China;</li>
<li>customers concerned were not employed by these companies; and</li>
<li>pay slips provided income figures that were much greater than the customers' actual incomes.</li>
</ul>
As a result of that conduct, Westpac financed over $17M in home loans in reliance on false documentation.
Messrs Zhao, Ma and Zhang have the right to seek a review of ASIC's decision to the Administrative Appeals Tribunal.
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Fraudster mortgage brokers at X Finance Group banned by ASIC

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ASIC has banned Michael Wilkins, of Watanobbi, NSW, from engaging in credit activities for three years.
Mr Wilkins was a mortgage broker and helped clients to arrange finance to purchase properties. ASIC found that on five occasions in June and July 2010, Mr Wilkins submitted loan applications on behalf of clients in which he deliberately overstated their savings by between about $130,000 and $179,000.
By submitting these loan applications, ASIC found that Mr Wilkins gave to the bank information or a document that was false or misleading.
Mr Wilkins has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
Background
Mr Wilkins' banning arises from ASIC's ongoing investigation into a group of companies and people known as ‘the Heritage Group’.  The Heritage Group advised its clients to set up self-managed superannuation funds (SMSF) and buy property with their superannuation.
In the course of its investigation into the Heritage Group, ASIC also achieved the following outcomes:
<ul>
<li>permanently banning Mr John Dimitropoulos from providing financial services or engaging in credit activity (refer: <a href="http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-322mr-john-dimitropoulos-permanently-banned-by-asic-from-financial-services-and-credit-in-connection-with-property-and-smsf-spruiking/" target="_blank">17-322MR</a>). Mr Dimitropoulos appealed to the Administrative Appeals Tribunal. The review is yet to be heard;</li>
<li>cancelling the credit licence of a company formerly called Heritage Financial Solutions Australia Pty Ltd and Heritage – Freedom &amp; Security Pty Ltd (refer: <a href="http://asic.gov.au/about-asic/media-centre/find-a-media-release/2015-releases/15-102mr-asic-cancels-australian-credit-licence-of-property-spruiking-firm/" target="_blank">15-102MR</a>);</li>
<li>cancelling the credit licence of a company formerly called Sunpac Finance Pty Ltd on its own application;</li>
<li>cancelling the credit licence of Smithson &amp; Baye Pty Ltd. This cancellation is currently subject to a decision on appeal to the AAT (refer: <a href="http://asic.gov.au/about-asic/media-centre/find-a-media-release/2015-releases/15-228mr-asic-cancels-australian-credit-licence-of-queensland-company-involved-with-property-promoting-group/" target="_blank">15-228MR</a>). </li>
</ul>
ASIC has concerns about the way The Heritage Group structured the loans and property ownership within its clients SMSFs.
Investors who obtained advice or finance from people associated with this group should contact their lender and if necessary, obtain independent professional advice to ensure that the loans to their SMSFs and their property ownership have been structured in compliance with the trustees' superannuation law obligations.
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ASIC ban NSW mortgage broker for three years

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The online mortgage broker Lendi has completed its latest round of capital raising. 
The AFR's Street Talk column wrote Lendi recently ruled off a $25 million capital raise.
It was oversubscribed with support from some existing shareholders, sophisticated investors and a number of blue-chip Australian institutions.
The company is seeking to take more than its current one per cent last year of the market. 
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Lendi is 40 per cent owned by founders and employees, having been founded by David Hyman, Sebastian Watkins, Martin Lam and Mark Kalajzich.
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Its shareholders include Bailador and Macquarie Group.
The company initially raised $3.1 million from high net worth investors to scale the business nationally.
In 2014 its secured a further $6 million.
It now has 200 team members across four offices.
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Lendi complete another round of capital raising 

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ASIC has permanently banned husband and wife, Shrikrishna and Shilpa Karandikar, from engaging in credit activities.
ASIC's investigation found that from mid-2014 to February 2016, Mrs Karandikar had acted as an intermediary between consumers and the National Australia Bank for the purpose of securing a home loan, contrary to the terms of an ASIC banning order in force against her.
The home loan applications were submitted to the National Australia Bank through her husband's mortgage broking business in Dandenong, Siddhi Vinayak Finance Pty Ltd.
Mr Karandikar was permanently banned from engaging in credit activities for being involved in Mrs Karandikar's contravention of the terms of her 2014 banning order.
ASIC also found that Mr Karandikar had engaged in misleading and deceptive conduct by certifying that he had completed customer identification forms in the presence of home loan applicants when he had not.
It was found that Mr and Mrs Karandikar therefore were not fit and proper persons to engage in credit activities.
The National Australia Bank identified the misconduct and reported it to ASIC.
ASIC Acting Chair Peter Kell said, 'ASIC will uphold the integrity of its administrative powers in the interest of protecting the public from unscrupulous mortgage brokers.'
Mr and Mrs Karandikar have the right to seek a review of ASIC's decisions to the Administrative Appeals Tribunal. ASIC's investigation is continuing.
On 10 July 2014, Mrs Karandikar was banned by ASIC from engaging in credit activities for a period of four years, following an ASIC investigation that found she had submitted false documents to secure a $243,000 home loan for a customer
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Dandenong mortgage broker gets permanent ASIC ban

<html><body>More property investors are choosing to use mortgage brokers to secure finance, the third annual Property Investment Professionals of Australia (PIPA) Property Investor Sentiment Survey has found in the face of tighter lending conditions.   The national survey, which gathered insights from 742 property investors, found that 73 per cent of investors used the services of a mortgage broker to secure their most recent loan – up significantly from 65 per cent two years before.   And in the next 12 months, 83 per cent of investors intend to finance their next loan through a broker – up from 71 per cent last year. By far most investors (68 per cent) think it is unfair they have to pay higher interest rates compared to owner occupiers, the results showed.   Yet, despite the changes in lending serviceability over the past two years, the largest proportion of investors (38 per cent) report no difficulty refinancing, although a significant minority (28 per cent) aren’t sure, and 22 per cent said they are having difficulty refinancing.   Given lenders are charging higher interest rates for interest-only loans, 30 per cent of investors said they either have switched or intend to switch to principal and interest repayments, however an even bigger proportion (36 per cent) said they have no plans to switch.   PIPA chair Ben Kingsley said that the survey results confirmed that sophisticated investors were prepared to use professionals to help their grow their portfolios.   "The restrictive lending environment for investors across the nation may have removed some of the speculation out of the market, but is also preventing some sophisticated investors from investing in their financial futures as well as adding to the supply of rental properties," Mr Kingsley said.    "Our survey results show that rather than be defeated, educated property investors are opting to use professionals to assist them to achieve their goals – regardless of the lending environment."</body></html>

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