Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Mortgage

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="section">
<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">Housing finance commitments fell in September, driven by a sharp drop in investor lending. </div>
<div class="column"> </div>
<div class="column">
While today’s report also showed an increase in upgrader lending, the impact of the changes to investor lending standards in recent months is clearly net negative for housing market sales activity and housing construction. Slower auction market sales, weaker house price growth and higher mortgage rates in recent weeks point to a soft housing market outlook in 2016.
</div>
<div class="column">
 Investor finance fell a sharp 8.5% m/m in September, and has now fallen for five consecutive months (Figure 1). APRA will be satisfied that their measures are indeed having the desired effect of slowing annual investor credit growth down towards sub-10%. However, the sharp loss in housing market momentum in recent months presents a soft outlook, not just for house price growth and mortgage lending, but also for the contribution to economic growth from housing. 
</div>
<div class="column"> </div>
<div class="column">Slower price growth and higher mortgage rates in recent weeks are expected to weigh on planned housing construction (Figure 1) and provide less of a boost to consumer confidence and retail spending.</div>
<div class="column">
 In contrast to weaker investor finance, owner-occupier mortgage lending increased 1.7% m/m (excluding refinance) in September. While growth in owner-occupier lending has offset weaker investor finance in recent months, today’s net negative impact is likely to continue in the coming months as the combined impact of slower house price growth, the recent increases in mortgage lending rates and weak household income growth provide a headwind to owner-occupier sales. 
</div>
<div class="column"> </div>
<div class="column"><a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.47.30%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.47.30%20PM.png" alt="" width="520" height="356"></div>
<div class="column"> </div>
<div class="column"><a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.48.53%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.48.53%20PM.png" alt="" width="819" height="992"></div>
<div class="column"> </div>
<div class="column"><a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.50.42%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%202.50.42%20PM.png" alt=""></div>
<div class="column"> </div>
<div class="column">
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
David Cannington is senior economist, ANZ Research and can be contacted <a href="https://www.anz.com/corporate/research/" target="_blank">here</a>.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

Australian mortgage lending confirms soft housing market outlook: ANZ Research

<html><body><div title="Page 1">
ANZ has increased variable interest rates for all Australian variable home and residential investment loans to partially offset rising regulatory capital requirements against home lending, chief executive officer Mark Whelan announced.
The standard variable rate for owner-occupier home loans will increase by 0.18%pa to 5.56%pa and the Residential Investment Property loan index will increase by 0.18%pa to 5.83%pa, with changes coming into effect 20 November.
The increase, a total of 18 basis points, will add $36 per month to the average home loan of $242,000, according to ANZ. 
Ashley Playsted, CEO of Wealthie, the mortgage brokering service, said he expected consumer confidence would take a hit, "but consumers need to proactively turn their attention to the less publicly-known lenders, who are actually putting their rates down." 
<div>"These non-major bank lenders may not have the branch networks that you can walk in to," he said.</div>
<div> </div>
<div>"People worry about the security of the small lender, however, this is slowly changing."</div>
</div></body></html>

mick.cee-iDmgDDAmu8

ANZ to increase variable interest rates for all Australian variable home residential investment loans 

<html><body>
GUEST OBSERVER
The Reserve Bank of Australia (RBA) is rapidly losing relevance to mortgage holders amid a myriad of changes to the nation's home loan landscape to tackle concerns about investor lending.
While the RBA maintains its cash rate at a record low of 2.0% – where it has been since May this year - tens of thousands of borrowers have already been hit with increases to their mortgage rates.
The decision of many lenders to raise interest rates for investment and interest only loans as well as revised borrowing conditions means the RBA's rate deliberations have become almost irrelevant for some borrowers.
While there is some competition in the market for owner-occupied loans at the moment due to the restrictions on investor loans, this pricing will be short lived with the pressure on the major banks to meet Australian Prudential Regulation Authority (APRA) measures by June next year. We will likely see rates increase for owner-occupied in the future.
The actions of the banks to increase rates in response to industry and regulatory desires to tackle the growth in investor lending due to concerns about booming Sydney and Melbourne property prices has changed the lending landscape.
Despite the RBA keeping its cash rate on hold, thousands of borrowers have been notified already by their lender that their interest rate will go up by as much as 49 basis points.
In the history of home loans it has never been more confusing for borrowers, who now need to be better informed than ever before.
Not only are rates for investors and people on interest only loans being targeted, there is a great variation now for all those looking to borrow money for investment purposes. Any investor who has purchased should revisit their approval as lending conditions have changed dramatically.
There have also been changes to loan servicing calculations, Loan to Value Ratio (LVR) requirements as well as the rental income needed to help service a loan.
John Kolenda is managing director of 1300HomeLoan and can be contacted <a href="https://www.1300homeloan.com.au" target="_blank">here</a>.
</body></html>

RBA decisions losing relevance: John Kolenda

<html><body>
Budgewoi on the New South Wales central coast is Australia’s worst performing suburb when it comes to missing housing loan repayments, according to research published yesterday.
The latest Australian Mortgage Delinquency by Postcode report by Fitch Ratings found Tasmania is the worst performing state for mortgage repayments, replacing Queensland with an average delinquency rate of 1.33%.
Overall, the average mortgage default rate in Australia hovered at around 0.99% for the month ending March, which is up 9% since September 2014.
Of the top 20 worst-performing postcodes, the majority are in metropolitan regions.
However, metropolitan suburbs performed better on average than their rural and regional counterparts.
This is particularly the case for states such as Western Australia, Queensland and the Northern Territory due to the downturn in the mining industry.
James Zanesi, director of Fitch Ratings Australia, told SmartCompany that national arrears rates are currently very low.
“They are extremely low and probably due to the current situation Australia is in,” Zanesi says.
“This means very low interest rates, unemployment at an acceptable level and the economy which is really strong and house process as well. So we have a situation where arrears can’t improve that much as you’ll always have mortgage defaults due to divorces … and other unexpected circumstances.”
Zanesi points out while Queensland has been the worst-performing state for mortgage repayments since about 2012, it is interesting to see Tasmania take out the top spot.
“This is reflecting the high unemployment rate and the slow housing market,” he says.
“The housing market in Tasmania has been overall the same during the last three years and especially if you look over the past decade.”
Looking forward, Zanesi says if house prices start to slow down there will be certain areas that will suffer more.
“This means areas such as the west of Sydney or others hit by strong house prices will start to have an increase in arrears,” he says.
Here are the 20 worst performing suburbs when it comes to mortgage repayments:
 
<ol>
<li>Budgewoi NSW</li>
<li>Kingston QLD</li>
<li>Petrie QLD</li>
<li>Corio VIC</li>
<li>Greenacre NSW</li>
<li>Melton VIC</li>
<li>Hampton Park VIC</li>
<li>Laidley QLD</li>
<li>Salisbury SA</li>
<li>Ballajura WA</li>
<li>Goodwood TAS</li>
<li>Jimboomba QLD</li>
<li>Green Valley NSW</li>
<li>Bundamba QLD</li>
<li>Aldinga SA</li>
<li>Parafield Gardens SA</li>
<li>Mount Isa QLD</li>
<li>Claremont TAS</li>
<li>Hoxton Park NSW</li>
<li>Lalor VIC</li>
</ol>
</body></html>

Budgewoi, the worst performing home loan suburb

<html><body><div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
Investor mortgage levels have been higher than owner occupier loans since July 2014, according to the August CoreLogic RP Data Housing Market and Economics Update.
The report found a slight dip in new loans given to owner occupiers prior to March 2015. 
<a href="/images/2015/08/14/Screen%20Shot%202015-08-14%20at%202.35.45%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/14/Screen%20Shot%202015-08-14%20at%202.35.45%20PM.png" alt="">
</div>
</div>
</div>
</div></body></html>

Investor mortgage levels higher than owner occupier: CoreLogic RP Data

<html><body>
Complacent mortgage holders who aren’t capitalising on low interest rates and intense lender competition could be costing themselves, according to Smartline Personal Mortgage Advisers.
"Many borrowers are unaware that any discount from the lender’s standard variable rate they secure now will stay with them with that lender in future years," Smartline adviser Michael Karp.
“Working out whether you can get a better deal on your home loan is one of those things that often ends up in people’s ‘too hard’ basket – it’s seen as being a difficult and tedious process,” Mr Karp said.
“In this current environment, the bank might offer you a 0.8% discount off their standard variable rate in the knowledge most people will not ask for more – but a mortgage adviser may well be able to get you something like a 1.0% discount depending on your circumstances.
"Take the example of a $350,000, 30 year loan at an 80% lend.
"The standard variable interest rate on offer is 5.45% and a borrower, who goes direct to their lender, secures a discount of 0.8%, making the rate 4.65%. 
"However, a second borrower uses a mortgage adviser who is able to secure a discount of 1.0% to make the interest rate 4.45%.
"As a result, the second borrower saves a total of $7130 in interest over the life of the loan (if the rate stayed the same)."
</body></html>

Mortgage discounts stay once secured: Smartline 

<html><body>
Someone with lots of time on their hands and not much to do has decided I’m a stressed person.
I should probably seek professional help because not only am I stressed but, alarmingly, I don’t know it. I’m never felt more relaxed in my life, but the aficionados has declared me stressed and these people are experts. Clearly I have a serious disorder.
But it gets worse. Apparently Australia is chock full of people just like me - stressed to the max, but don’t know it. We’re delusional apparently.
We’re all suffering from a new 21st Century disorder known as mortgage stress. The symptoms are a high standard of living, a quality home, an ability to pay all your bills, holidays overseas, happy kids and 30% of your income spent on your mortgage.
It’s a national issue because we don’t know it’s serious. We should all be in therapy but most of us aren’t. Someone should bring on a parliamentary inquiry. 
Sorry, I forgot, they already have. We already have an politicians inquiry into affordability, following close on the heels of the previous 18-month investigation that found nothing of value.
Here’s how it works. One of those pointless businesses that compare home loans and interest rate deals has decided to drum up a bit of publicity in a competitive industry.
They know the key to success is to publish something sensationally negative and they know media is obsessive-compulsive over the whole issue of house prices and affordability.
So they’ve invented something called mortgage stress. They’ve arrogantly decided on a benchmark based on nothing other their desire for media profile. 
So they’ve come up with garbage like this: “On average many owners in capital cities are on the tipping point of mortgage stress, committing 29% of their income to cover repayments. When owners use 30% of their income to repay their loans they are considered to be in mortgage stress.”
Really? According to which experts? Who has pronounced 30% to be the point at which we all fall into stress?
The answer is someone who writes press releases for a loan comparison outfit. It’s the quintessential case of lies, damned lies and statistics.
With the latest findings of this pointless exercise, you could actually come up with something spectacularly positive. Because the latest “research” indicates that Sydney residents with mortgages are NOT mortgage stressed. On average, Sydneysiders with mortgages spend only 26% of income on their mortgages payments. 
After all the hysteria about Sydney prices and the so-called affordability crisis, Sydney households are actually very comfortable with their home loans. Isn’t that extraordinary?
Melbourne also is a city bereft of mortgage stress, with the typical household paying only 28% of income on the mortgage. Perth is very comfortable also. And across Australia, the average household is below the arbitrary red line of 30%.
That’s worth a headline, I would have thought, assuming you believe these figures have any relevance at all.
But the press release writer has buried this deep down the bottom of the media statement, because it’s a rather inconvenient fact. It doesn’t fit the objective of a sensationally negative finding.
The spokesperson for the pointless organisation (which will remain nameless because they don’t deserve the publicity) has declared the results “a bit worrying”.
“It’s alarming that so many Australians are over-stretching themselves and first home buyers and those buying with others are the worst off,’’ she said.
Actually, it’s not alarming at all. It’s quite the opposite. According to their figures, the residents of our largest and most expensive cities are not mortgage-stressed at all. And the average Australian is below the manufactured stress level.
So what did media do? Naturally they published the “findings” pretty much verbatim from the press release, breathlessly declaring a crisis.
Another addition to the great seething mass of misinformation about Australia real estate.
In my perfect world, publishing this kind of dishonest, fabricated-crisis nonsense would be a criminal offence. I see it as a form of fraud.
 
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
</body></html>

terryryder-YECXbqmri2

Are you suffering from mortgage stress? Terry Ryder

<html><body>
Mr Shiv Prakash Sahay, a former credit representative of AHL Investments Pty Ltd trading as Aussie Home Loans (Aussie) has been convicted and sentenced in Sydney's Downing Centre Local Court on charges relating to a home loan fraud.
Mr Sahay, of Lidcome, NSW, was sentenced to 350 hours of community service work on three charges of making false statements, making false documents and using false documents in home loan applications submitted by Mr Sahay for his clients to Bankwest (a division of the Commonwealth Bank of Australia) and Suncorp Metway Limited.
ASIC Commissioner Peter Kell said the lending industry depended on mortgage brokers and other credit representatives acting honestly and in compliance with the credit laws.
"ASIC will vigorously pursue offenders involved in falsifying loan documents and other statements for their own financial benefit.'"
ASIC continues to focus on misconduct involving loan fraud, which often involves mortgage brokers.
Since becoming the national regulator of consumer credit in 2010, ASIC has achieved significant loan fraud outcomes, with criminal proceedings being launched against 11 people, resulting in seven convictions for various offences and four defendants currently before the Courts.
Some 34 individuals or companies have also been banned from providing credit services or precluded from holding a credit licence (including 18 permanent bans or cancellations).
The Commonwealth Director of Public Prosecutions prosecuted the matter.
ASIC's investigation found that between 14 November 2011 and 6 August 2013, Mr Sahay, whilst a credit representative of Aussie, made false statements in loan applications and created and used false bank statements for 17 of his clients to attempt to secure home loans totaling approximately $7 million.
Of the $7 million in loans for which Mr Sahay applied, $4.796 million were approved. Ask Consultancy Services Pty Ltd, a company controlled and owned by Mr Sahay, received over $5,500 in upfront commissions and then ongoing commissions as a result of Mr Sahay's offending.
On 26 May 2015, Mr Sahay pleaded guilty to three charges of:
a) making 13 false statements in loan applications submitted by him for his clients to Bankwest and Suncorp; and
b) making 23 false documents, namely bank statements; and then using 26 false documents in loan applications submitted by him for his clients to Bankwest and Suncorp (refer <a href="https://asic.gov.au/about-asic/media-centre/find-a-media-release/2015-releases/15-128mr-sydney-man-pleads-guilty-to-home-loan-fraud/" target="_blank" title="15-128MR">15-128MR</a>).
Mr Sahay was expelled from the Mortgage &amp; Finance Association of Australia on 1 February 2014.
</body></html>

Shiv Prakash Sahay convicted and sentenced on home loan fraud

<html><body>
ASIC has banned John Patrick Sweeney of Sydney from providing financial services for two years.
ASIC found Mr Sweeney failed to comply with financial services laws as a non-executive director of Provident Capital Limited.
Provident Capital went into receivership on 3 July 2012 and into liquidation on 24 October 2012.
ASIC suspended Provident Capital’s Australian Financial Services Licence on 15 October 2012.
ASIC’s investigation found John Sweeney engaged in misleading or deceptive conduct in relation to a financial product.
"This specifically related to his conduct from September 2010 to March 2012 when he approved Provident Capital's Quarterly Reports and Benchmark Reports issued to ASIC and Australian Executor Trustees Limited," ASIC Commissioner John Price said.
Mr Sweeney has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC’s investigation into Provident Capital is continuing.
On 20 February 2015 ASIC banned managing director of Provident Capital Limited, Michael Roger O’Sullivan of Sydney from managing corporations for five years and from providing financial services for seven years. 
Mr O'Sullivan has sought a review of ASIC's decision in the Commonwealth AAT.
Provident Capital issued debentures to retail investors through their Fixed Term Investment Portfolio and advanced the debenture funds to third party borrowers, including property developers, on a first mortgage basis.
Provident Capital also operated a mortgage fund under a wholesale facility with Bendigo and Adelaide Bank and two managed investment schemes.
On 29 June 2012, on an application by the Australian Executor Trustees Limited, the trustee for Provident debenture holders, the Court ordered that receivers be appointed to Provident. ASIC appeared as a ‘friend of the court’ in these proceedings.
When Provident Capital went into liquidation on 24 October 2012 over 3,000 Provident debenture holders were owed approximately $130 million.
Provident’s receivers (PPB Advisory) have estimated that the likely return to debenture holders will be in the range of $0.17 to $0.19 in the dollar.
</body></html>

John Sweeney banned from providing financial services after Provident Capital investigation

<html><body>
Is it a case of banks don’t know what’s going on, or is it more a statement they don’t want to know? Pour yourself a fresh cup of coffee and read on. Don’t forget, your comments are welcomed and be sure to share them.
There are three main issues that banks appear to be very silent on and the question that is fitting in this property-climate is simply: “why are they so quiet?” A question which begs a straight answer; especially with the concerns surrounding foreign and local property investors buying newly built property and pricing local first-time-home-buyers out.
The three concerns and issues I refer to are:
·     Rental guarantees
·     Overly inflated commissions and
·     The scourge of the financial industry sector, selling property without a real estate industry license.
My immediate guess is, if you are riding the “Gravy Train” of “Overseas &amp; Local Investors” why should these seemingly illegal practices be of concern to banks? Again and for now, I’m just speculating that; it’s best to turn a blind eye than it is to confront what may well be considered unfair and unjust to local home buyers. After all, first-time-home-buyers aren’t the flavor of the month to all concerned, now are they?
It is my strong belief that the three topics noted, create an unfair advantage that has driven property values sky-high as developers reach for the skies.
Why is this unfair? I have previously discussed in other articles, “Rental-Guarantees” and “Overly-Inflated Commissions” are ultimately paid by the investor.
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?SURL=buh8exBazU3bNSloPOr0rrJNNQesJNSotxGFO7YMkRixynWPdWzSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBsAGkAbgBrAGUAZABpAG4ALgBjAG8AbQAvAHAAdQBsAHMAZQAvAGkAbgB0AGUAcgBuAGEAdABpAG8AbgBhAGwALQBpAG4AdgBlAHMAdABvAHIAcwAtAGIAZQBpAG4AZwAtAGQAdQBwAGUAZAAtAHMAeQBkAG4AZQB5AC0AYQB1AHMAdAByAGEAbABpAGEALQBlAGQAdwBpAG4ALQBhAGwAbQBlAGkAZABhAA..&amp;URL=http%3a%2f%2fwww.linkedin.com%2fpulse%2finternational-investors-being-duped-sydney-australia-edwin-almeida"> </a>Ha! And you thought the developers were generous and paid for these right? Therefore, driving the values of the newly built properties upward.
Now allow me to break it down for you.
Rental guarantees:
What is common amidst most of the activity surrounding the sales of newly built property is the rental guarantees. Some rental guarantees are lasting for as long as 3 years.
It is my belief that any incentive made by the vendor or the agent to enhance the sale, the incentive has to be disclosed and must also form part of the contract of sale. The inducement being the rental guarantee but this is not limited to a rental guarantee.
In my time I have also seen cars and furniture packages form part of sales incentives, all in the aim to entice the investor to buy.
Inflated Commissions:
Yes, I know I speak out a lot about this very subject but when spruikers earn 5 times what the local agent earns in one sale, there has to be something wrong. If I don’t speak out, will the REI NSW step in or any of the REI’s for that matter?
I stopped holding that breath 4 years ago.
Nevertheless, the banking bodies should take note as their clients (the investors) are ultimately paying for this.
I also note that most of my endeared friends that have created this negative impact on the local home front, all sell newly built property. An arena where highly inflated commissions can and are paid out.
Selling without an industry license:
The temptation is just too great and the grass is greener on the other side. When so much money is at stake we have seen; brokers, accountants, financial planners and advisers jump the fence to moonlight as real estate agents as they lead their clients astray.
Again, this is an area where the banks should focus on, as local investors fall prey to the rogues within the financial sector.
A closer eye and perhaps a magnifying glass should be used to review contracts especially when the buyers are: Trustee Companies for Self-Managed-Super-Fund (SMSF) Trusts. More to the point when the property is new as this is the territory where these rogues, feast and boast about the high commissions earned.
Rental guarantees, overly inflated commissions and spruikers selling real estate without a license under the guise of calling themselves property-marketers: should send alarm bells ringing through the banking sector. But once more, why is there so much silence surrounding the very issues that have overly inflated the value of a new property in Sydney?
Getting to the nuts and bolts
Unethical real estate agents, spruikers, property marketing companies and the scourge of the financial sector; all have been ensnared by the prize of the high commissions and in turn lure investors by creating false perceptions of property: growth, demand, under-supply and high return on investment. How? By the simple use of instruments (such as rental guarantees) outside of the contract of sale and therefore, making the transaction questionable and unconscionable.
The falsely represented, high priced, new property sales ultimately filters down to established homes and we have what I refer to as “property-osmosis”. Property osmosis is an upward pull of established property's prices, caused by the exaggerated values of the surrounding new developments.
Most people are also under the impression that Overseas-Investors are paying for their properties with 100% cash. However, that it is not the case. Most investors buy property with a high deposit and borrow 50-60% through a loan vehicle.
In actual fact, Chinese citizens can only take up to $50,000 out of China through legal channels. However, there are means and ways to take $200K-$400K without much fuss.
Therefore, banks are more than happy to lend at 60% Loan to Value Ratios, as they are well secured even if the market dips by 20-30%. As you can see, there is very little risk for the banks.
Then there are our home grown Local-Investors that have been enticed to buy. Their property investment guides as previously mentioned are mainly, property spruikers and financial experts that assist in creating (SMSF) schemes to buy property. These vehicles also requiring low LVRs to purchase.
Typically, the SMSF schemes may borrow 70-80% to buy the investment property. Again the banking sector feeling secure on all counts.
What banks and Industry bodies need to do
The first and foremost prudent demand banks should place on the real estate industry is, for the “Sales Inspection Report and Agency Agreement” to be disclosed. Disclosure of what the “AGENCY” is being rewarded for the sale, will provide a twofold and strong indication to the valuer if there are any hidden agreements not being revealed.
·     Overinflated commissions
·     Payments made to agent/agency to cover rental guarantees and other incentives not disclosed in the Contract of Sale, which are passed on to the investor.
A copy of the agency/corporation license, should also accompany the contract of sale when providing the relevant documentation to the valuers. For the bank valuers to properly asses the true value of the property.
·     An agency or business name on the front page of the contract inserted after "Vendor's Agent" does not represent that the agent holds an industry license.
Perhaps at this very moment there is simply too much at stake to curve these questionable practices. The banks, financial institutions, real estate agents and we may also include the government, are all making too much money on this gravy train, to really care about our local first home buyers.
I am troubled nonetheless to think that all these practices that may be considered highly questionable if not illegal, have and continue to go on and right under the very noses of the banking institutions.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
</body></html>

Mortgage

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Mortgage

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News