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.

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"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.

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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 Debt

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The proportion of residential mortgages more than 30 days in arrears is increasing with the national delinquency rate at the highest rate in five years.
But delinquencies have been in decline in New South Wales given good economic and labor market conditions.
Eight of the 10 regions with the lowest mortgage delinquencies in Australia were in Sydney, where housing market and economic conditions have combined to be highly supportive for borrowers.
Sydney's Eastern Suburbs headed the list followed by North Sydney and Hornsby, City and Inner South, Ryde, the Northern Beaches, Baulkham Hills and Hawkesbury, the inner west and inner South West.
Mortgage borrowers in these best-performing regions are most likely to be employed in professional services industries, Moody's Investor Services noted.
"These occupations tend to pay higher wages and are more stable than mining and construction-related employment."
Moody's also noted rising Sydney house prices had supported mortgage performance, giving borrowers at risk of or already in arrears the easier option to sell quickly for a good price to repay their loans.
However, as house prices continue rising without a corresponding increase in incomes, housing affordability decreases and the risk of delinquencies and defaults rises.
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Moody's forecast continued weaker conditions in outlier states reliant on the mining industry, with high underemployment, and less favourable housing markets and income dynamics.
Six of the 10 worst regions across Australia — the Western Australia outback, Queensland outback, Mackay, Western Australia wheat belt, Mandurah and Fitzroy — have been among the worst performing regions in the country for the last four years.
The NSW state economy grew 3.8 percent over the year to March 2017, well above the national average of 1.6 percent.
NSW also has the lowest unemployment rate in the country since June 2015.
Although NSW's large and diverse economy shields us, we are sensitive to a slowdown in the housing market.
Our high household leverage poses a downside risk.
The large differential between house price and wage growth — particularly in Sydney where house prices have increased the most — means that households have had to take on more debt to fund home purchases.
While house prices in Australia have increased by an average of 30 percent over the three years to July 2017, average weekly earnings have increased just 4.99 percent.
Higher debt levels make households more vulnerable to economic or housing market shocks, Alena Chen, the Moody's VP senior analyst said.
She noted households had accumulated record levels of mortgage-related debt in the past few years.
But it should be noted the price growth ensure the proportion of people who have very high exposure to a fall in house prices – those with loan to valuation ratios above 90% – has also been declining over time.
The basic picture is one of prudent households, rather than a community of people gambling on house price rises, Rodney Maddock, Adjunct Professor of Economics, Monash University recently noted.
Retaining well paid jobs will be crucial to Sydney home owners.
This article first appeared in the Saturday Daily Telegraph.
 
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jchancellor-FAypfDUnLy

Sydney jobs ensure it escapes the Moody's mortgage stress 

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GUEST OBSERVER
Home ownership among young people is declining, as mortgage debt almost doubles for the same age group, results from the Household Income and Labour Dynamics in Australia (HILDA) survey show. It also shows young people are living with their parents longer. 
The Melbourne Institute of Applied Economic and Social Research undertakes the survey every year. It’s Australia’s only nationally representative household longitudinal study, and has followed the same individuals and households since 2001.
The survey shows the rate of home ownership among 18 to 39 year olds declined from 36% in 2002 to 25% in 2014. In the same age group, the decline in home ownership has been largest for families with dependent children, falling from 56% to 39%. 
<a href="https://www.propertyobserver.com.au/images/2017/08/02/Screen%20Shot%202017-08-02%20at%209.04.42%20AM.png" target="_blank">Click to enlarge</a>
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Even for those in this group who manage to buy a home, mortgage debt has risen dramatically. In 2002, 89% of home owners in this age range had mortgage debt. By 2014 this had risen to 94%. 
More significantly, the average home debt rose considerably. Expressed in December 2015 prices, average home debt grew from about A$169,000 in 2002 to about A$337,000 in 2014. Low interest rates since the global financial crisis have meant mortgage repayments for these home owners have remained manageable, but this group is very vulnerable to rate rises. 
<a href="https://www.propertyobserver.com.au/images/2017/08/02/Screen%20Shot%202017-08-02%20at%209.05.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/02/Screen%20Shot%202017-08-02%20at%209.05.55%20AM.png" alt="">
Detailed wealth data in the survey, collected every four years since 2002, show this increase in debt and decrease in ownership are part of a trend in the wider population. HILDA shows 65% of households were in owner-occupied dwellings in 2015, down from 69% in 2001.
In fact, the decline in home ownership has been greater than the decline in owner-occupied households. This is largely because adult children are living with their parents for longer.
For example, the HILDA data show that the proportion of women aged 22 to 25 living with their parents rose from 28% in 2001 to 48% in 2015. For men this proportion rose from 42% to 60%.
Among those who manage to access the housing market, the data shows that the growth in home debt is not simply because they are borrowing more to purchase their home. A surprisingly high proportion of young home owners (between 30% and 40%) actually increase their debt from one year to the next, despite most of them remaining in the same home. Even over a four-year period - for example, from 2010 to 2014 - at least 40% of young home owners with a mortgage increase their nominal home debt.
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The proportion of people with home debt that exceeds the value of their home – that is, negative equity – has also risen. In 2002, 2.4% of people had negative equity in their home; in 2014, 3.9% had negative equity. This is a relatively small proportion, but this could change as even small decreases in house prices will result in substantial increases in the prevalence of negative equity.
<h2>How this changes with location, income and profession</h2>
In 2014, less than 20% of Sydneysiders aged 18 to 39 were home owners, compared with 36% or more in the ACT, urban Northern Territory and non-urban regions of Australia. To a significant extent this reflects differences across regions in house prices. 
Sydney and Melbourne have particularly high house prices, while non-urban areas generally have comparatively low house prices. Regional differences in the incomes of 18 to 39 year olds also play a role. 
Those with the highest home-ownership rates are professionals and, to a lesser extent, managers. They experienced relatively little decline in home ownership. 
For workers in other occupations, home ownership has declined substantially. In 2014 home ownership was especially rare among community and personal services workers, sales workers and labourers.
This decline represents profound social change among this age group, where renting is increasingly becoming the dominant form of housing. In 2002, 61% of people aged 35 to 39 were home owners – a clear majority of their age group. By 2014, this proportion had fallen to 48%.
The changing housing situation of young adults is part of a broader change in the distribution of wealth in Australia. The HILDA Survey shows that differences in average wealth by age have grown since 2002. For example, in 2002, median net wealth of those aged 65 and over was 2.8 times that of people aged 25 to 34. In 2014, this ratio had increased to 4.5. 
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The decline in home ownership among young adults and this broader trend in wealth have implications for their long-term economic wellbeing and indeed for the retirement income system. Even if house price growth moderates and many of those currently aged under 40 ultimately enter the housing market, it’s likely that a rising proportion will not have paid off the mortgage by the time they retire. It may be that many will resort to drawing on superannuation balances to repay home loans, in turn increasing demands on the Age Pension.
<a href="https://theconversation.com/profiles/roger-wilkins-95906" target="_blank">Roger Wilkins</a> is Professorial Research Fellow and Deputy Director (Research), HILDA Survey, Melbourne Institute of Applied Economic and Social Research, University of Melbourne and author for The Conversation.
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Home ownership falling, debts rising – it’s looking grim for the under 40

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The latest Census data shows mortgage stress has eased, but of course even a small interest rate rise will send many households, and even the economy, back onto struggle street.
The national research by the Grattan Institute showed highly indebted households were clustered on the fringes of capital cities rather than in the wealthiest suburbs of the inner ring.
Sydney suburbs under mortgage stress included Preston, Hoxton Park, Carnes Hill, West Hoxton, Middleton Grange, Hinchinbrook and Chullora.
The suburbs deemed as not under mortgage stress included North Bondi, Tamarama, Bronte, Double Bay, Bellevue Hill, Sydney, Haymarket, The Rocks, Balmain, Newtown, Camperdown and Darlington.
Mortgage stress was defined as spending 30 per cent or more of household income on home loan repayments.
"In 2011, about 10 per cent of households had mortgage stress. Today it's only 7 per cent," Grattan Institute chief executive John Daley said.
"What the census data shows is that the areas of high stress are a little further out from the metropolitan areas in 2016 than in 2011 because new housing estates are further out," Mr Daley noted.
Although the outer ring house prices are cheaper, incomes are likely lower and loan-to-value ratios are higher because more people have actually only just purchased a property.
Our overall low interest rates have made it easier for most households to meet mortgage repayments.
"If interest rates went up 2 percentage points, which is possible, stress levels would be the highest on record apart from the squeeze in 1989, which scarred a generation of home-owners," John Daley said. 
The Reserve Bank of Australia's recent data on household debt show it stood at 190 per cent of annualised disposable incomes confirming Australia has one of the world's highest private debt burdens.
Treasurer Scott Morrison has acknowledged this private debt load.
It was a reason the government supported moves by the Australian Prudential Regulation Authority and Reserve Bank's to further crackdown on interest-only lending especially for home buyers. 
The regulatory response has helped slow price growth in Sydney which was rising at an annual pace of almost 20 per cent in late 2016. It is now down to 12 percent annual growth according to CoreLogic.
The systemic risk of people not being able to repay their home loans appears small. 
In fact the proportion of people who have very high exposure to a fall in house prices – with loan to valuation ratios above 90 percent – has been in decline. 
The basic picture is one of prudent households, rather than a community of people gambling on house price rises, Rodney Maddock, Adjunct Professor of Economics, Monash University said recently.
None of this is to deny that house prices can fall, and that interest rates will rise, but somehow most of us will find a way to endure any challenging landscape.
This article first appeared in the Daily Telegraph.
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Mortgage stress eases in the city but future rate rises will impact the fringe households

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The recent interest rate increases by major and non-major banks have contributed to a rise in national mortgage arrears, according to ratings agency Standard &amp; Poor’s.
The number of home loan delinquencies underlying Australian prime residential mortgage backed securities (RMBS) rose to 1.21 percent in April from 1.16 percent in March, according to a recent S&amp;P report, RMBS Arrears Statistics: Australia.
New South Wales, Victoria and Queensland – which account for about 80 percent of total loan balances – all recorded increases in arrears between March and April, according to S&amp;P.
“Part of the increase reflects a decline in outstanding loan balances, but we believe interest-rate rises announced by different lenders during the past few months affected the Standard &amp; Poor's Performance Index (SPIN) for Australian prime mortgages, given that most of the loans are variable-rate mortgages,” S&amp;P analyst Erin Kitson was cited as saying by the Australian Broker. 
The SPIN looks at the weighted average of arrears more than 30 days past due on residential mortgages in publicly and privately rated Australian RMBS transactions and is calculated on a monthly basis.
Arrears increased in all states and territories except the ACT, NT and Tasmania. 
The largest surges in delinquencies in this time period were as follows:
• Queensland (1.58% to 1.66%)
• New South Wales (0.85% to 0.91%)
• Western Australia (2.27% to 2.32%)
However, the number of delinquencies in NSW and Victoria remain below the weighted average SPIN for prime mortgages.
Regional banks recorded the most increase in rise in arrears with mortgage payments more than 30 days late up from 2.02 percent in March to 2.27 percent in April. This was around 1.8 times higher than the prime SPIN, Kitson said.
“We attribute this in part to a decline in outstanding loan balances and the regional banks' greater exposure to Queensland; around half of all regional banks' outstanding loan balances are domiciled in the state.”
In comparison, for non-regional banks arrears increased from 1.10 percent to 1.14 percent between the two months, while non-banks rose from 0.87 percent to 0.95 percent in the same time period. These figures remained below the SPIN.
For non-conforming loans, arrears fell from 6.17 percent to 5.03 percent between April and March, due to a backdrop of increasing loan balances.
“Interestingly, mortgage repayments more than 90 days past due made up around 41% of the total nonconforming arrears in April compared with 60% for prime arrears. The proportion has been broadly consistent in the non-conforming sector for the past 10 years, but has increased more markedly in the prime sector during the period,” the report said.
On the bright side, Kitson said improvements in the seasonally adjusted unemployment rate in May are a credit positive for mortgage arrears.
“Relatively stable employment conditions in Australia have underpinned the low levels of arrears and losses in Australian RMBS transactions; loss of income is a key cause of mortgage default. Declining unemployment and positive jobs growth are fundamental to the ongoing stable collateral performance of Australian RMBS.”
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Interest rate rises by banks driving up mortgage arrears: S&P

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Challenger banks may be impacted by "ultra-competitive mortgage pricing" as lenders struggle to cope with rising demand for loans amid rising funding and regulatory costs and pressure on profits.
A warning came through from Bendigo and Adelaide Bank managing director  Mike Hirst, who said rates needed to return to levels that "reflect the current market funding and capital costs”, according to a report in the Australian Financial Review.
With the big four banks — Commonwealth, Westpac, ANZ and NAB — raising home loan rates for both investors and owner occupiers, smaller lenders are seeing a surge in borrower applications and struggling to meet demand.
Adelaide Bank announced an increase in its deposits for residential investors from 10 per cent to 20 per cent on top of the 25 basis point increase in costs for investor loans.
"As has been well telegraphed to all Australian authorised deposit-taking institutions, there is an expectation that as lenders, we must manage within the regulator's 10 per cent growth speed limit for investor loans,” Hirst was cited as saying by Fairfax Media.
Another lender to announce a change in its lending rates was AMP Bank, the Australian Broker reported.
The bank is raising variable interest rates for interest-only loans for existing customers by 15 basis points for owner-occupied loans and 28 basis points for investment loans from April 3.
In addition, effective March 31, 2017 for new customers and April 3, 2017 for existing customers, owner occupied principal and interest variable rate loans will increase by 7 basis points. As a result, the AMP Bank Professional Pack owner occupied variable rate loan will increase to 3.92% p.a. for new customers for loans of $750,000 and above.
The lender is also encouraging customers with interest-only loans to switch to principal and interest repayments. It will waive the switch fee until June 30. 
Sally Bruce, group executive of AMP Bank, almost echoed Hirst, saying the bank’s rate decision reflects “wholesale funding costs, the need to maintain a balanced portfolio and the market environment”.
“We also want to encourage customers to move to principal and interest repayments where it’s appropriate, as there is a great opportunity to access lower interest rates and repay your loan faster,” she was quoted as saying.
Teachers Mutual Bank, Unibank and Firefighters Mutual Bank are also increasing owner-occupier fixed rates from one to five years by 7 basis points. It applies to interest only and principal and interest.
For example, the interest rate on a one-year principal and interest loan for an owner occupier will rise from 3.77 per cent to 3.84 per cent. For five years the rate will rise from 4.54 per cent to 4.61 per cent.
Investor rates for the same borrower will respectively increase to 4.14 per cent and 4.91 per cent over the same terms.
Last May, Teachers Mutual Bank and Unibank were among the first lenders to slow growth on investor loans to meet the financial regulator, the Australian Prudential Regulatory Authority’s 10 per cent annual cap on investor loan growth. 
The banks, which have more than $6 billion in assets and 180,000 members, also recently withdrew from new investment lending to reduce annual growth from about 15 per cent. It was not available for comment.
"The changes to our fixed rate home loans represent the first changes to these rates in 2017. They reflect the changing market conditions for interest rates, both domestically and internationally,” said a bank spokesman. 
MyState, the listed financial services group, is also set to raise the rate for existing residential investors by 28 basis points.
Last Friday, property investors with interest-only loans from Commonwealth Bank of Australia were hit with the second interest rate rise in six weeks.
It follows earlier increases from ANZ Banking Group, Westpac Bank Corp and National Australia Bank and comes despite the Reserve Bank of Australia holding the official cash rate steady last week.
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Mortgage pricing competition might hurt challenger banks    

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More than 300,000 home loan customers have little or no equity in their homes, because they either failed to keep up with mortgage repayments or values in their area have fallen, new research by Roy Morgan has found.
Equity in this context is the difference between the value of your property and how much you owe on it.
In the 12 months to October 2016, it was revealed that 6.9% (302,000) of Australian mortgage holders had little or no real equity in their home, says a post on the website of Roy Morgan Research. The figure has improved just a little from around the same time in 2015, when around 345,000 home loan customers had no equity. 
This is based on the fact that the value of their home is only equal to or less than the amount they still owe, placing them at considerable risk if they have to sell or prices decline. 
Roy Morgan communications director Norman Morris said, “this represents a considerable risk to these households and their banks, particularly if home values fall or households are hit by unemployment”. 
“With some early signs that home loan rates are rising, the problem is likely to worsen as repayments increase and home values may decline, which has the potential to lower equity levels even further.”
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Morris added that there were several reasons that some borrowers were not gaining equity in their homes despite a generally strong property market. These include being in areas with declining values, apartments in Sydney and Melbourne losing value, borrowing more than the real value of the property, falling behind in mortgage payments, and increased borrowing for renovations that haven’t been reflected in increased property values.
The analysis was based on the Roy Morgan Single Source survey of more than 100,000 interviews over the last two years. 
Over the last 12 months, Roy Morgan said it interviewed more than 10,000 owner-occupied mortgage holders.
Western Australia had the largest proportion of such homeowners, with 10.4 percent of mortgage holders, or 54,000, having little or no equity in their home, the highest in Australia and 2.1% points higher than the same period in 2015. 
“The slowdown in WA’s mining sector is seeing the highest proportion of mortgage holders faced with little or no equity in their homes, and this position has deteriorated further over the last twelve months,” said Morris.
South Australia also recorded an increase in proportion over the last 12 months, up by 1.8 percent points to 8% (27,000), according to the analysis.
Among the states and two largest cities included in this analysis, Sydney had the lowest proportion of mortgage holders with little or no equity in their home: just 3.9 percent (33,000), down 1.1 percent points in the last year. 
“This improvement is due to home prices increasing faster than in most other areas of Australia and outpacing the growth in the average amount owing on mortgages,” Roy Morgan’s research said. 
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Tasmania was the second-best performer with 4.7 percent (5,000) of mortgage holders facing equity risk, followed by NSW with 5.1 percent (73,000), Victoria with 6.0 percent (65,000), Melbourne with 6.1 percent (50,000) and Queensland with 7.2 percent (63,000).
The research also observed that mortgage gearing or risk was lowest in Sydney (28.9 percent) and Melbourne (32.4 percent), mainly because of the rapid rise in property values.
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300,000 mortgage holders have no equity in their homes: Roy Morgan

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The value of residential real estate in Australia is worth a total of $6.6 billion according to CoreLogic's Housing Market and Economic Update for August 2016.
Australians have an outstanding mortgage debt of $1.6 trillion, with the gross value of sales per annum at $281.1 billion.
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Residential real estate wealth worth $6.6 trillion

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The number of prime Australian housing loans in arrears has risen for the fifth consecutive month, figures according to the Standard &amp; Poor’s Performance Index (SPIN) show.
Not by much as 1.13 percent of prime residential mortgage-backed securities (RMBS) were in arrears during March – up from 1.11 percent in February.
“While a decline in outstanding loan balances during the month would have affected this movement, the dollar value of loans in arrears increased, resulting in prime arrears being up overall,” S&amp;P noted.
The proportion of full-doc loans rose to 1.09 per ent in March from 1.07 percent a month earlier.
According to S&amp;P, the SPIN for low-documentation loans meanwhile fell 14 basis points in March to 4.41 percent, with part of the decline reflecting a rise of around 2 percent in outstanding loan balances,” the agency said.
“Low-doc loans represent around 1.3 percent of total loans outstanding that underlie prime RMBS transactions – down from a peak of 13.2 percent in January 2008.”
Regional banks experienced the largest decline in arrears of all loan originator types – down 13 basis points to 2.02 percent – while the major banks’ SPIN rose 7 basis points to 1.01 percent.
Arrears remain below their decade-long average of 1.25 percent, S&amp;P advised.
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Mortgage arrears continue slight upward trend

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Rental yields on houses in Australia's two biggest cities of Sydney and Melbourne are down to record low levels, increasing the risks for property investors and ultimately, residential mortgage-backed securities (RMBS), according to new report by Moody's Investors Service.
Low rental yields have increased net costs in servicing a housing investment relative to incomes, making investment properties less affordable, says Moody's in its just-released report on Australian RMBS titled, Record Low Rental Yields Increase Risks for Residential Property Investors. 
Net costs refer to investment loans costs less rental income.
Nearly half of the investor loan mortgages backing Australian RMBS were originated in Sydney and Melbourne. Housing investment loans account for 32% of the mortgages backing Australian RMBS. 
"Deteriorating affordability increases the risks for Australian residential property investors and therefore for residential mortgage-backed securities backed by loans on investment properties," said JP Truijens, assistant vice-president at Moody's.
"The deteriorating affordability of servicing investment properties makes residential property investors more vulnerable to risks such as loss of income, interest rate increases, vacancies or rent reductions, and therefore increases their probability of default." 
According to the report, deteriorating affordability also reduces investors' flexibility around refinancing or restructuring their mortgage loan terms, giving them less options should they experience hardship.
On average, the net annual cost of servicing an investment in a median-priced three-bedroom house in Sydney funded with an 80% loan- to-value (LTV) mortgage was $41,300 as of 31 December 2015, up 78% from three years earlier. In Melbourne, the cost was $26,674, up 63% from three years earlier.
Investors in Sydney houses require 39.6% of net household income to service their investment properties, while Melbourne house investors require 26.5%, both record highs. 
For investments in median-priced two bedroom apartments in Sydney, the average net annual servicing cost was $16,270 as of end-2015, up 70% from three years earlier. In Melbourne, the cost was $15,147, up 35% from three years earlier. 4
Investors in Sydney apartments require 16.7% of net household income to service their property investments - the highest in a decade - while Melbourne apartment investors require 15.5%, a record high. 
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The fall in rental yields has increased the level of 'cashflow' losses suffered by residential property investors over the past three years and made them dependent on greater levels of house price appreciation to cover their losses.
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A greater dependency on price appreciation makes residential property investing, and in turn, investment loans more risky.
Moody's says the performance of residential property investment loans will deteriorate through 2016 and 2017. Investment loans taken in 2014 and 2015 - at the peak of the recent house price cycle - will be behind this deterioration, it adds.
The credit rating agency also does not expect any major improvement in the cost of servicing property investment loans in the near term.
The negative impact of low rental yields and the deteriorating affordability of servicing property investments will be most evident in RMBS issued in 2016 and 2017.
Australian RMBS portfolios are typically made up of loans that are one to two years seasoned and so the bulk of the 2014 and 2015 investor loans to be securitised will be found in 2016 and 2017 vintage RMBS.
 
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Record-low rental yields in Sydney, Melbourne increase default risk for investors: Moody's report

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The number of home owners in Australia falling behind on their mortgage repayments is expected to rise in 2016 though will still remain at low levels as slow economic growth takes a toll, according to credit rating firm Moody's.
Only 1.2 per cent of a sample of 506,000 residential mortgage loans in November are more than 30 days in arrears but that could rise by the end of the year due to below-trend economic growth and a slower pace of house price growth in some cities, writes Su-Lin Tan in the Australian Financial Review.
Mortgage repayment arrears will be highest in states whose economies are resources-driven.
NSW, however, should be the exception as strong economic conditions should nullify the impact of the cooling housing market on delinquencies, says the article.
Sydney dominates the list of areas with the lowest delinquencies. "We also expect that Australia's GDP growth will likely be towards the upper end of our 1.5 to 2.5 per cent forecast range for 2016, but this will be below the long-term average of 3.5 per cent," Moody's assistant vice-president Alena Chen said.
"We expect the Australia-wide delinquency rate for mortgages showing more than 30 days in arrears to increase in 2016, but remain at a low level." When housing prices rise, a homeowner has greater incentive to keep a mortgage loan current. When the value of a housing asset falls, borrowers become less motivated to keep up their repayments.
STATES AFFECTED
Mining-dependant states such as Western Australia, Northern Territory, and Queensland will have more home buyers defaulting on their loans. "Strong house price growth was a supportive backdrop for mortgages borrowers in 2015, helping to keep nationwide delinquencies steady at low levels.
"We expect the pace of house price growth to slow in 2016, leading to the increase in mortgage delinquencies," the report said.
The current rate of 1.2 per cent is flat compared with last year's rate of 1.19 per cent.
Western Australia had the highest delinquency rate out of all the states and territories with the rate up by 0.48 percentage points over the year to 1.71 per cent, During 2015, six of the 10 worst performing regions in Australia were in Western Australia and Queensland.
These six regions are exposed to industries directly or indirectly related to mining and resources.
The best performers were NSW and the ACT at 0.85 and 0.82 per cent respectively.
Eight of the 10 best performing regions and 14 of the 22 best performing postcodes in Australia, were in Sydney, where house prices have boomed.
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