The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Ratecity.com.au

<html><body>
AMP has announced it will discontinue self-managed super fund (SMSF) property lending.
It will continue to support existing SMSF home loan customers, however, from November they will not be permitted to switch to interest-only, internally refinance or extend their loan term.
The announcement follows similar moves from CBA and Westpac in recent weeks.
Westpac stopped SMSF home loans for new customers on 31 July, while CBA announced its ban would take effect from 12 October 2018.
Both Westpac and CBA will continue to support existing SMSF loan customers.
RateCity research director, Sally Tindall, said the writing could be on the wall for SMSF property lending.
“Today’s announcement from AMP comes as a shock to no-one,” she said.
“AMP’s new chairman, David Murray, has been one of the most vocal critics of self-managed super fund property lending,” she said.
In 2014, the Financial System Inquiry recommended that the government remove the exception to the general prohibition on direct borrowing for limited recourse borrowing arrangements by superannuation funds - although Scott Morrison, who was then treasurer, rejected the recommendation.
“Banks are focused on reducing risk in their loan books. In a falling property market, it’s not surprising we’re seeing lenders retreat from this type of lending,” Tindall said.
“Macquarie Bank, Bendigo Bank and Bank of Queensland are now the biggest banks in a dwindling pool of providers offering SMSF property loans,” she said.
List of lenders offering SMSF loans from next month:
<table style="width: 685px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="163">
Lender
</td>
<td valign="top" width="224">
Product
</td>
<td valign="top" width="113">
Max. LVR
</td>
<td valign="top" width="113">
Advertised rate
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank Australia
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.25%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank of Queensland
</td>
<td valign="top" width="224">
Business Term Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
5.55%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bendigo Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Big Sky Building Society
</td>
<td valign="top" width="224">
SMSF Limited Recourse Investment Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
6.43%
</td>
</tr>
<tr>
<td valign="top" width="163">
Heritage Bank
</td>
<td valign="top" width="224">
SMSF - Fully Drawn Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.24%
</td>
</tr>
<tr>
<td valign="top" width="163">
Hume Bank
</td>
<td valign="top" width="224">
Self-Managed Super Fund Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="163">
IMB Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
La Trobe Financial
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
Lendex
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Liberty Financial
</td>
<td valign="top" width="224">
SuperCredit
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
LJ Hooker Home Loans
</td>
<td valign="top" width="224">
Accelerator SMSF
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Macquarie Bank
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Mortgage House
</td>
<td valign="top" width="224">
Home Loan Prime (SMSF - Class 1)
</td>
<td valign="top" width="113">
60%
</td>
<td valign="top" width="113">
5.09%
</td>
</tr>
<tr>
<td valign="top" width="163">
Red Rock Mortgages
</td>
<td valign="top" width="224">
SMSF residential express
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.29%
</td>
</tr>
<tr>
<td valign="top" width="163">
Regional Australia Bank
</td>
<td valign="top" width="224">
SMSF Housing Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.87%
</td>
</tr>
<tr>
<td valign="top" width="163">
Resi
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Resimac
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Switzer Home Loans
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.22%
</td>
</tr>
<tr>
<td valign="top" width="163">
Yellow Brick Road
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.97%
</td>
</tr>
</tbody></table>
</body></html>

j.ballantyne1990-6AQqhLzZaK

AMP the latest lender to ditch SMSF property lending 

<html><body>
There are now 50 lenders offering a total of 126 home loans under two per cent.
For the average $400,000 home loan paying down principal and interest, a rate under two per cent brings the cost of mortgage repayments down to less than $50 a day.
That's compared to a $59 a day cost to two years ago, when the lowest mortgage rate was 3.44 per cent according to RateCity.com.au.
The RBA cuts over the last two years, which takes the lowest rate down to 1.77 per cent, sees the average mortgage holder save $12 a day on their home loan, which is around $360 a month and $4,380 a year.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/30/RateCity%20repayments%202.jpg" alt=""> 
There are 50 lenders now offering a total of 126 home loan under two per cent, 40 per cent of the 124 lenders on the <a href="http://ratecity.com.au/">RateCity.com.au</a> database with at least one home loan rate starting with a ‘1’.
There were 11 lenders with rates under 2 per cent right before the November 3 RBA cut. Since then, the list has more than quadrupled.
RateCity.com.au research director Sally Tindall said home loan rates under two per cent were becoming the new norm. 
‘At the start of this month a rate under two per cent was as rare as hens’ teeth. Today there’s well over 100 of them," Tindall said.
“Record low interest rates have supercharged people’s borrowing power. As a result, some first home buyers are finally finding themselves in contention at open homes and auctions."
The latest ABS lending finance figures show there was a 51% increase in the number of first home buyer loans over the last year in original terms.
“The formula of record low rates and government grants seems to have hit the sweet spot for many first home buyers. They’re finally enjoying their time in the sun," Tindall added.
“Two years ago, the lowest variable rate was 3.44 per cent. Today its 1.77 per cent and it’s not just the low-cost lenders that have moved. The whole market has been forced to follow behind them.
“Just last year, owner occupiers with a rate in the threes probably thought they had a cracking deal. Today, you’d be pretty mortified with that."
</body></html>

jrobinson-rf4aSBido9

50 lenders offering average mortgage rates at $50 a day

<html><body>
A survey from RateCity.com.au revealed that 42 per cent of Australians are more proactive about how they manage their money since COVID-19.
Young Australians felt especially money-conscious with 61 per cent of 18 to 34-year-olds saying they felt more proactive about managing their money following the pandemic.
The results support recent APRA and RBA findings that Australians are saving, not splurging during COVID-19.
APRA figures from earlier this year show Australians have an extra $64.41 billion more deposits in the bank compared to the start of COVID-19.
Many Australians have used their time in lockdown to clear credit card bills, refinance their home loans and build up a savings buffer, RateCity research director Sally Tindall said.
“For a lot of young Australians, their travel plans have gone up in smoke, their night life has been reigned in and, as a result, they’ve got spare cash to put towards their first car or home.”
RateCity’s tips to be more proactive include setting savings goals, checking rates and clearing high interest debts.
As reductions to JobSeeker and JobKeeper are set to squeeze millions of household budgets, people are advised to get their finances in order now.
“If that’s you, it’s worth talking to a financial counsellor to get your finances into the best shape possible as your income drops,” Tindall said. 
</body></html>

Young Aussies are saving not splurging during COVID: RateCity

<html><body>
Saving rates have continued to plunge even though the Reserve Bank isn’t expected to cut the cash rate today, says Australian financial comparison website RateCity.
RateCity analysis shows that more than 40 banks cut saving account rates, including CBA, NAB, Macquarie Bank and AMP.
Average ongoing saving rates now sit at 0.59 per cent.
Research director Sally Tindall says complacent savers are earning next to nothing in this low rate environment.
“Seventy-six per cent of all household deposits are held by the big four banks, yet they’re the ones offering some of the lowest ongoing savings rates on the market.”
Westpac is the only big bank bucking the trend, offering an impressive 3 per cent rate for customers aged 18 to 29.
At the same time interest rates have continued to fall, deposits have hit an all-time high, according to the latest APRA statistics.
This means banks don’t need to attract new savers, Tindall says.
“They can’t even afford to offer respectable returns to the customers they’ve got.”
Just last week, Macquarie Bank slashed its introductory rate by 0.50 per cent to 1.50 per cent while AMP terminated its welcome rate altogether.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-01%20at%2012.51.53%20pm.png" alt=""> 
Introductory rates across the big four banks have dropped by an average of 1.12 per cent while the ongoing savings rate has dropped by 0.09 per cent.
The average cash rate has dropped by 0.75 per cent in the last year for the big four, while the conditional savings rate has dropped to 0.92 per cent.
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Savers stung by falling rates, despite no likely RBA cut: RateCity

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Homestar Finance has claimed the title of the lowest fixed rate on the market for new home buyers and refinancers.
The new rate of 1.98 per cent is fixed for one year, reverting to an ongoing variable rate of 2.49 per cent. The rate requires borrowers to have a 20 per cent deposit and comes with upfront fees of $1,010.
RateCity.com.au analysis shows if an owner-occupier with a $400,000 home loan switched from the average existing owner-occupier rate of 3.28 per cent, to this new rate from Homestar Finance they could potentially save $3,796 in the first year, including refinancing costs, or $15,816 in the first five years. 
Sally Tindall, research director at RateCity.com.au, said today's rate cut would ignite further competition among the low-cost lenders in a bid to claim the title of Australia’s cheapest home loan.
“At 1.98 per cent, this is the lowest fixed rate available to everyday Australians, but it’s important to remember it only lasts for a year. That said, the revert rate is still significantly lower than the big four banks’ variable rates,” she said.
Despite no move to the cash rate, lenders are continuing to cut both fixed and variable rates. Just last week, loans.com.au launched a new lowest introductory variable rate of 1.99 per cent for one year.
“It’s starting to feel like the end of an auction where the competitors are edging each other on in small increments,” she said. 
“But they’re all playing ball, pushing each other below the two per cent barrier.
“We expect rates to keep nudging lower over the next few months as lenders try to capitalise on the current refinancing boom,” she said.
Lowest 1-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
Homestar Finance
</td>
<td width="112">
1.98%
</td>
</tr>
<tr>
<td width="225">
Greater Bank
</td>
<td width="112">
2.09%
</td>
</tr>
<tr>
<td width="225">
UBank
</td>
<td width="112">
2.14%
</td>
</tr>
</tbody></table>
 
Lowest 2-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
Homestar Finance
</td>
<td width="112">
2.06%
</td>
</tr>
<tr>
<td width="225">
HSBC
</td>
<td width="112">
2.09%
</td>
</tr>
<tr>
<td width="225">
BCU
</td>
<td width="112">
2.12%
</td>
</tr>
</tbody></table>
 
Lowest 3-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="225">
Lender
</td>
<td width="112">
Advertised rate
</td>
</tr>
<tr>
<td width="225">
UBank 
</td>
<td width="112">
2.14%
</td>
</tr>
<tr>
<td width="225">
BCU
</td>
<td width="112">
2.16%
</td>
</tr>
<tr>
<td width="225">
Macquarie Bank, Westpac
</td>
<td width="112">
2.19%
</td>
</tr>
</tbody></table>
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Home loans hit new record low of 1.98 per cent

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New figures released from the ABS show new home lending plunged in the month of April by $935.5 million.
In the same month, Australians wiped a record $1.55 billion off debt accruing interest on their credit cards – the highest drop on record.
HOUSING 
The ABS lending indicator statistics released today show that new lending dropped by 4.80 per cent, month-on-month, with the total value of new lending down by $935.5 million compared to March 2020, according to the seasonally adjusted data. Of this, a $720.9 million drop was from new owner-occupier loans. 
Refinancing, however, picked up pace – the number of external refinances increased by 11.20 per cent in the month of April, and 26.96 per cent, year-on-year, according to the seasonally adjusted figures.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2" nowrap>
Value of new loans
</td>
<td>
% change 
</td>
<td>
% change 
</td>
</tr>
<tr>
<td>
Mar 2020 – Apr 2020
</td>
<td>
Apr 2019 – Apr 2020
</td>
</tr>
<tr>
<td nowrap>
Total housing
</td>
<td nowrap>
-4.80%
</td>
<td valign="bottom" nowrap>
11.24%
</td>
</tr>
<tr>
<td nowrap>
Owner occupiers
</td>
<td nowrap>
-5.00%
</td>
<td nowrap>
14.75%
</td>
</tr>
<tr>
<td nowrap>
Investors
</td>
<td nowrap>
-4.23%
</td>
<td nowrap>
2.38%
</td>
</tr>
</tbody></table>
Notes: Seasonally adjusted figures. Figures exclude refinancing.
Source: ABS lending indicator statistics for April 2020, released 10 June 2020.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2">
Number of owner-occupier loans
</td>
<td>
% change 
</td>
<td>
% change 
</td>
</tr>
<tr>
<td>
Mar 2020 – Apr 2020
</td>
<td>
Apr 2019 – Apr 2020
</td>
</tr>
<tr>
<td nowrap>
First home buyers
</td>
<td nowrap>
-3.75%
</td>
<td nowrap>
15.56%
</td>
</tr>
<tr>
<td nowrap>
Refinancers
</td>
<td nowrap>
11.20%
</td>
<td nowrap>
26.96%
</td>
</tr>
</tbody></table>
Notes: Based on the number of new loans to owner occupiers using seasonally adjusted figures.
Source: ABS lending indicator statistics for April 2020, released 10 June 2020.
CREDIT CARDS
Statistics released yesterday from the RBA show that outstanding debt accruing interest dropped by $1.55 billion or 5.76 per cent. The highest monthly drop on record. 
<div>
<div><button title="Show original size" type="button" data-is-focusable="true"></button></div>
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
TOTAL
</td>
<td>
Apr-20
</td>
<td>
Mar 2020 vs Apr 2020
</td>
<td>
Apr 19 vs Apr 2020
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Number of accounts
</td>
<td valign="bottom" nowrap>
13.50 million
</td>
<td valign="bottom" nowrap>
-136,817
-1.00%
</td>
<td valign="bottom" nowrap>
-1.09 million
-7.48%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total balances accruing interest
</td>
<td valign="bottom" nowrap>
$25.43 billion
</td>
<td valign="bottom" nowrap>
-$1.55 billion
-5.76%
</td>
<td valign="bottom" nowrap>
-$4.10 billion
-13.87%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total value of purchases
</td>
<td valign="bottom" nowrap>
$14.72 billion
</td>
<td valign="bottom" nowrap>
-$6.43 billion
-30.42%
</td>
<td valign="bottom" nowrap>
-$7.22 billion
-32.92%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Total value of cash advance
</td>
<td valign="bottom" nowrap>
$307.44 million
</td>
<td valign="bottom" nowrap>
-$199.54 million
-39.36%
</td>
<td valign="bottom" nowrap>
-$287.76 million
-48.35%
</td>
</tr>
</tbody></table>
</div>
Notes: excludes commercial cards, using original data from the RBA. Data released 9 June 2020. 
RateCity.com.au research director, Sally Tindall, said a lot of Australians spent their lockdown refinancing their mortgages and getting on top of their debt.
“Australians spent the month of April getting their finances in order, scaling back spending and knocking down their debt, with the biggest monthly drop in debt accruing interest on record,” she said.  
“The early access to superannuation program is likely to be a factor in this record busting drop, giving some Australians an opportunity to wipe clean their credit cards that was, in their mind, too good to refuse.
“Refinance activity has also taken off during lockdown. We expect this to continue to gain pace with many homeowners looking to sure up their finances. 
“In relation to mortgages, today’s drop is likely to be the beginning of a long road ahead for the home lending market.  
“In April alone, nearly one billion dollars of new lending was ripped out of the property market, as the country went into lockdown; the biggest monthly drop in new lending since October 2015, in dollar terms,” she said.
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Aussies hunker down on debt in lockdown

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The average mortgage holder is $127 a month better off after three rate cuts since June, research from RateCity.com.au has found.
The figures are based on a big four customer with a discounted variable rate and a $400,000 loan with 25 years remaining.
If the borrower chose to invest the savings back in to their mortgage by leaving their repayments the same, they would be over $24,000 ahead over the remainder of the mortgage, which would be paid off two years and three months sooner.
Sally Tindall, RateCity research director said, despite no rate cut yesterday, variable mortgage holders have come out in front this year.
“Home owners are very much ahead this year – our research shows that the average Australian mortgage holder is now saving an estimated $127 a month thanks to the three RBA cuts this year, even though they weren’t passed on in full,” she said.
Impact of three rate cuts in 2019 – average mortgage holder
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="321">
Estimated savings June to December
</td>
<td nowrap width="109">
$595
</td>
</tr>
<tr>
<td nowrap width="321">
RBA cumulative cuts since June
</td>
<td nowrap width="109">
0.75%
</td>
</tr>
<tr>
<td nowrap width="321">
Average cumulative cuts from big four banks
</td>
<td nowrap width="109">
0.57%
</td>
</tr>
</tbody></table>
“While it’s tempting to spend your money at the shops, putting the money into your mortgage could help you pay it off months, even years earlier.
“Our research also shows while the average owner-occupier rate has dropped 0.57 per cent in the last year, the lowest rate has dropped by 0.75 per cent. 
“If you’re willing to shop around there are rock bottom rates available,” she said. 
 
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Average mortgage holder $127 a month better off after 2019 cuts

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ANZ Bank are the second of the big four to cut their savings rates in the last week.
They've cut their savings rates by up to 0.10 per cent, bringing their ongoing rate to 0.10 per cent, the worst of the big four.
ANZ also have the lowest introductory rate at 1.85 per cent for the first three months.
Big four banks standard savings account: Source RateCity <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/24/Bank%20savings%20rates.jpg" alt="">
Westpac cut their ongoing rate by 0.10 per cent last week.
Sally Tindall, research director at <a href="http://ratecity.com.au/">RateCity.com.au</a>, said banks had begun to slash rates ahead of a further cut to the cash rate, which could come as soon as next week.
“ANZ and Westpac customers will now find it just that little bit harder to squeeze any sort of interest out of their bank,” she said.
“In many cases, ANZ customers are earing ongoing rates of just 0.10 per cent on their standard savings accounts, which makes them little more than a safe place to park your money.
“ANZ customers with a conditional savings account can get up to 1.85 per cent interest, but if they forget to meet the banks terms and conditions, it drops to as little as 0.01 per cent.
“Savers around the country are doing it incredibly tough, and for many its enough to throw their hands up in the air.
“That said, it’s still worth shopping around for a decent rate. <a href="http://ratecity.com.au/">RateCity.com.au</a>’s database shows some banks are still willing to offer ongoing rates of up to 2.50 per cent.
“Two of the banks offering ongoing rates of 2.50 per cent are neo banks, which suggests it could pay to look outside the box,” she said.
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ANZ cut savings rates as banks anticipate looming RBA cash rate cut

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The value of home lending saw a jump of over five per cent in new home loans settled in July, according to new ABS data.
Owner-occupiers saw the biggest growth, with a 5.3 per cent increase in value in July.
Investors have continued their come-back into the housing market, with the value of investor loans increasing 4.7 per cent.
First home buyers have continued their slow but steady return to the market, increasing their share of new owner-occupier lending to 29.4 per cent in July, up from 29.3 per cent in June – the highest proportion since January 2012. 
Fixed loans have continued to fall out of favour with borrowers. The proportion of owner-occupiers fixing fell to 10.4 per cent, which is the lowest level since October 2015.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td nowrap>
Housing finance 
</td>
<td valign="bottom" nowrap> </td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td nowrap> </td>
<td valign="bottom" nowrap> </td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td nowrap>
Value of new loans
</td>
<td valign="bottom">
% change from previous month
</td>
<td valign="bottom">
% change year on year
</td>
</tr>
<tr>
<td nowrap>
Owner occupiers
</td>
<td valign="bottom" nowrap>
5.3%
</td>
<td valign="bottom" nowrap>
-8.3%
</td>
</tr>
<tr>
<td nowrap>
Investors
</td>
<td valign="bottom" nowrap>
4.7%
</td>
<td valign="bottom" nowrap>
-20.4%
</td>
</tr>
<tr>
<td nowrap>
All loans
</td>
<td valign="bottom" nowrap>
5.1%
</td>
<td valign="bottom" nowrap>
-11.8%
</td>
</tr>
</tbody></table>
Overall lending jumped 14.7% in July, with owner-occupier lending up 16.7% and investor lending up 9.4% month-on-month.
RateCity.com.au research director Sally Tindall said the stars are starting to align for borrowers in the lead up to the spring property season, despite the gloomy economic outlook. 
“Borrowers are feeling buoyed by a combination of plummeting interest rates, tax cuts, more relaxed serviceability measures and clarity around negative gearing,” she said.  
“Interestingly, this is the first month that factors in APRA’s axing of its 7 per cent serviceability floor. It’s likely that part of the bounce can be attributed to this, and we expect it to continue to have a positive effect on the market.
Home loan share 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap> </td>
<td valign="bottom">
Share of loans July 2019
</td>
<td valign="bottom">
Share of loans June 2019
</td>
</tr>
<tr>
<td nowrap>
First home buyer share
</td>
<td valign="bottom" nowrap>
29.4%
</td>
<td valign="bottom" nowrap>
29.3%
</td>
</tr>
<tr>
<td nowrap>
Fixed loan share
</td>
<td valign="bottom" nowrap>
10.4%
</td>
<td valign="bottom" nowrap>
14.1%
</td>
</tr>
</tbody></table>
<img src="https://www.urban.com.au/images/2019/9/9/first%20home%20buyer.png" alt="">
Notes: Based on the share of new owner occupier loans.  
“However, Australians are still on the sidelines when it comes to fixing, despite banks’ best efforts to attract new fixed borrowers onto their books”, she said. 
“It’s not surprising that a lot of Australians are now opting not to fix their home loan ratein this climate when the RBA has made it clear there could be one, if not two more rate cuts to come. 
“There are now dozens of lenders offering fixed rates below 3 per cent and as low as 2.74 per cent, for owner occupiers paying principal and interest, especially if they have a decent amount of equity in their home.”
 
 
 
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Home lending bounces back in the lead up to spring

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There are six lenders with variable home loans rates with a two at the front, according to RateCity.com.au.
They expect six to climb to 20 at the next RBA cut, if banks pass on at least 0.20 per cent to borrowers. 
RateCity research director Sally Tindall said owner occupier rates starting with a ‘2’ could become the new norm if the RBA made two more cuts to the cash rate.
“With two more rate cuts on the cards, we could see the lowest variable rate drop below 2.60, potentially even below 2.50 per cent.
“From here on in, lenders are going to be hard pressed to pass RBA cuts on in full, but rivalry in the home loan market will keep pushing rates down, even if it’s not by as much as the RBA would like.
“This pressure will force more banks to offer owner occupier rates under 3 per cent, especially for people with a decent amount of equity in their property.
Reduce Home Loans and Mortgage House offer the lowest variable rate at 2.89 per cent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/29/Variable%20Home%20Loan%20Rates.jpg" alt="">
 In the fixed rate space, 28 banks already have rates under three per cent, with 77 lenders taking the axe to fixed home loans in the past two months as banks price in future cuts.
“Some of the sharpest rates are reserved for fixed customers, starting from 2.79 per cent for one year, and 2.94 per cent for five years.
“Even the major banks’ 3-year fixed rates are lower than their basic variable rates – a sign that the banks think the only way is down for the cash rate.”
The big four banks gap between fixed and variable rates.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/29/Big%20four%20gap.jpg" alt="">
 
</body></html>

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