The sought-after Latent Defects Insurance policy, offering off the plan apartment buyers peace of mind for 10 years post-completion, has made its way to Sydney’s harbourside. Boutique developer <a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a> has secured this insurance for its newly launched Elizabeth Bay development, <a href="https://www.apartments.com.au/new-apartments/barncleuth-square-elizabeth-bay-4-4a-barncleuth-square-elizabeth-bay-nsw-2011">Barncleuth</a>. This marks the developer’s second project in the area, following the success of No. 1 Onslow Place.

Latent Defects Insurance, offered by <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Insurance</a>, provides cover for structural or waterproofing defects in new apartment buildings. It is a policy that only the developer or builder can take out, not the apartment purchaser.

Located just&nbsp;off Macleay Street, one of Sydney’s most desirable high streets, Barncleuth offers a rare collection of only 10 residences. With just two per floor, each oversized floorplan has been designed by SJB specifically for the owner-occupier.

[smartcode_project:default project_id=140184 project_image_fid=356342]

The five-storey building captures views over Rushcutters Bay and Paddington, blending contemporary brickwork with the expressive silhouettes of its Art Deco neighbours.

Inside, the residences, designed by David Hicks, prioritise generous scale and enduring quality, with a mix of two- and three-bedroom layouts. Expansive terraces and cross-ventilated interiors maximise light and airflow, while sustainable features such as a green roof and locally sourced materials reflect SJB’s commitment to long-term liveability.

[smartcode_project:default project_id=140184 project_image_fid=356341]

Developer Toohey Miller, led by Nick Couloumbis, says the design aims to bring lasting quality to an area long celebrated for its apartment heritage.

"It's a stone's throw from the best restaurants in Sydney. Some people call it the Soho of Sydney," Couloumbis told Apartments.com.au when the project was approved.

[smartcode_project:default project_id=140184 project_image_fid=356337]

By securing <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Latent Defects Insurance</a>, Barncleuth joins a growing group of premium Sydney projects adopting the gold standard in building protection.&nbsp;

The cover, provided before construction begins, ensures any hidden structural or waterproofing defects are repaired immediately, without lengthy litigation or fault disputes.

Resilience Insurance CEO Corey Nugent said the product has been a catalyst for renewed confidence in the off the plan market.&nbsp;

“Ultimately what we’re trying to do is build better buildings consumers can trust. When buyers take possession, they have full insurance protection from day one, for 10 years,” Nugent explained.

Unlike traditional policies such as strata or construction insurance, Resilience LDI is a first-resort, strict liability policy, meaning repairs are covered immediately without needing to prove negligence. Coverage extends to foundations, load-bearing walls, and waterproofing, the elements most critical to long-term structural integrity.

Regarded construction firm Jasara has been appointed to deliver Barncleuth. They are forecasting an early 2027 completion.

[smartcode_project_cta:default project_id=140184]

Joel Robinson

Toohey Miller brings 10-year Latent Defects Insurance to Elizabeth Bay as Barncleuth apartments launch

<a href="https://www.apartments.com.au/developers/golden-sedayu">Golden Sedayu</a> has unveiled plans for the next phase of its landmark $4 billion <a href="https://www.apartments.com.au/new-townhouses/burswood-point-saintly-entrance-burswood-wa-6100">Burswood Point</a> project, just 3.5km from the Perth CBD at the Belmont Racecourse site.

The Local Development Plan Application has been lodged for a world-class mixed-use hub (Precinct B) on the previously untouched 2.5km stretch of Swan River foreshore.

Designed by Skidmore, Owings &amp; Merrill (SOM), recognised for their work on the world’s tallest skyscraper, Burj Khalifa in Dubai and the One World Trade Centre in New York, Precinct B will feature 15 buildings, offering a mix of residential and commercial spaces including a shopping centre up to 30,000 sqm in size.

Complementing this, an internationally acclaimed five-star hotel, and a high-end pedestrian-friendly retail boulevard with vibrant day-and-night retail, dining, and entertainment venues, will provide exciting new ways for Perth residents to connect with the riverfront.

This latest milestone signals continued construction and expansion momentum across Perth’s premier riverfront community, which is set to attract local, national and international visitors.

[smartcode_project:default project_id=142314 project_image_fid=263304]

The masterplan features 110,000 sqm of public open space, which is comparable to other Perth landmarks including inner-city Langley Park and South Perth foreshore. The riverside precinct will be brought to life through a visionary landscape concept by globally renowned architectural practice Grant Associates.

With an impressive international portfolio, including Gardens by the Bay and Funan Mall in Singapore and Barangaroo South in Sydney, the firm brings expertise in creating environments that harmonise with surrounding amenity.

At 38 hectares, Burswood Point is one of the largest urban development projects ever undertaken in Australia, and one of Perth’s most transformative mixed-use developments.

Golden Sedayu Managing Director Andrew Sugiaputra said the company was working closely with SOM, Grant Associates and the Government of Western Australia to ensure Burswood Point’s design responds sensitively to its surroundings, reflecting and enhancing the character, history, and natural features of the local environment.

[smartcode_project:default project_id=142314 project_image_fid=1817]

“West Australians enjoy a privileged outdoor lifestyle and the Swan River is central to their enjoyment,"&nbsp;Sugiaputra said.

"We’re proud to be creating something truly spectacular and unique for the city, a place that feels alive from sunrise to sunset, a place where people can stay, shop, dine, and celebrate life on the river."

Precinct B builds on the outstanding success of Burswood Point’s first residential stage, which has been met with exceptional market demand. Somerset Residences, a two- tower luxury apartment development, and the exclusive riverfront homes collection are under construction and selling fast. As the number of Perth houses listed for sale remain at or near record lows, Burswood Point will deliver 4,500 new homes over the next 10 years.

“Golden Sedayu is dedicated to delivering on our promises,"&nbsp;Sugiaputra added.

"Our clients can buy with confidence, knowing that the price is fixed throughout construction. In an industry that has faced challenging market conditions, we’re proud to provide our clients complete peace of mind and confidence in the value of their investment."

&nbsp;

[smartcode_project_cta:default project_id=142314]

Golden Sedayu reveals next 15 buildings in Perth's $4 billion Burswood Point precinct

Rising at the base of The Remarkables,&nbsp;diversified New Zealand developer&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>'s Mountain Oak Apartments presents a foothold in Frankton, one of Queenstown’s most dynamic and fast-growing locales.&nbsp;

Surrounded by soaring alpine scenery and year-round tourism drawcards, Mountain Oak Apartments is a masterplanned precinct that perfectly balances accessibility with lifestyle amenity.

<img alt="Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Frankton has emerged as a strategic growth zone just seven kilometres from Queenstown’s CBD, popular among both residents and investors for its proximity to the airport, the region’s two premier ski fields, Coronet Peak and Cardrona Alpine Resort, and an expanding network of shops, services, and recreation options. The apartments enjoy immediate access to the popular Market Street dining hub, as well as Five Mile Shopping Centre and the seasonal Remarkables Market, where locals gather for fresh produce and artisan goods.

The location also places residents near the gateway to South Island adventures. Scenic trails, golf courses, and Lake Wakatipu’s edge are within easy reach, while the historic village of Arrowtown, renowned for its preserved gold rush-era charm and walking routes, is a short drive away. Local transport connectivity is supported by the nearby airport and arterial roads, ideal for frequent travellers and short-term guests alike.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Tourism-driven demand underpins strong investment fundamentals in Queenstown, with a noted shortage of short- and long-term accommodation stock. Mountain Oak’s 365-day visitor accommodation consent directly addresses this need, offering a rare opportunity to serve Queenstown’s dual population of holidaymakers and hospitality workers.

Construction of the 141 residences began in June 2025, with completion anticipated by mid-2027. Apartments range from one-bedroom to penthouses, with pricing from NZ$639,000. Dual-key options and low-maintenance finishes support a flexible rental model with strong gross return potential.

Staff Writer

From slopes to markets: Mountain Oak connects residents to the best of Queenstown

Deicorp is doubling down in the Hills Showground Station Precinct, the rapidly growing area surrounding the Castle Hill Metro and one of the state’s largest transit-oriented urban renewal sites.

Having launched Hills Showground Village several years ago, and now about 70 per cent through its build, Deicorp has brought another mini-masterplan to market just a few streets away.

The developer has now released the first of 873 residences in <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a>, five new buildings located just 500 metres from the Metro, which connects Castle Hill residents to Martin Place in around 37 minutes.

[smartcode_project:default project_id=150067 project_image_fid=351416]

The mix includes one, two, and three-bedroom apartments, as well as a limited release of garden terrace homes with studies.

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner Studio</a> and <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a>, the residences are configured around a network of landscaped courtyards and podium-level gardens, with additional rooftop terraces offering views across the district.&nbsp;Communal amenities include a 3,500 sqm public park, playgrounds, shaded seating areas and walking and cycling paths.

[smartcode_project:default project_id=150067 project_image_fid=351416]

Interiors feature flexible layouts with oversized living areas, deep balconies, SMEG kitchen appliances and floor-to-ceiling glass to maximise light and airflow.&nbsp;

Many apartments include a study space, while select residences offer private outdoor areas. A total of 44 apartments have been designated as affordable housing for key workers, such as nurses, teachers and police officers.

[smartcode_project:default project_id=150067 project_image_fid=351413]

On top of its strong connectivity to the city, Deicorp has delivered significant new amenity to the area. The developer recently opened the 9,500sqm, four-level retail precinct at Hills Showground Village, which includes 26 specialty retailers and a 1,400sqm public plaza, creating a new community hub for shopping, dining, fitness, and everyday convenience. Castle Towers, one of Australia’s largest shopping centres, is also just one Metro stop away.

Between Hills Showground Village and Showground Pavilions, Deicorp is delivering more than 1,300 new homes to the rapidly growing Castle Hill precinct, representing a $2 billion investment in the suburb.

Showground Pavilions is one of several Metro-linked projects in Deicorp’s pipeline, joining developments at Tallawong Village, Zetland, Five Dock, Macquarie Park and Crows Nest.

[smartcode_project_cta:default project_id=150067]

Deicorp expands Castle Hill footprint with Showground Pavilions launch

The completion of Melrose Park Village marks a significant achievement in the evolution of one of Sydney’s largest urban renewal projects, developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>.&nbsp;

Located in the city’s north-west, <a href="https://www.apartments.com.au/new-apartments/melrose-park-village-2a-2f-appleroth-street-nsw-2114">Melrose Park Village</a> represents the fourth completed stage in the broader $5 billion Melrose Park masterplan, which will ultimately bring over 6,000 new homes, a town centre, new schools and 52,000 sqm of green open space.

The completion of Melrose Park Village delivers 421 apartments across six buildings ranging from six to thirteen storeys, all centred around a 4,000 sqm landscaped courtyard designed as a communal “urban backyard” for residents.&nbsp;

The project is now 96 per cent sold, with 14 premium three-bedroom apartments remaining in the final building. Each offers two car spaces with prices starting from $1.259 million.

Alex Grujovski, Project Director, Apartment &amp; Mixed-Use Developments, said “Sekisui House Australia is proud to celebrate the completion of Melrose Park Village, which stands as a sustainable and connected community in the heart of Sydney’s north-west.&nbsp;

“This project represents a pivotal step in our long-term vision for <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>, reflecting our commitment to creating communities that blend nature, technology and human connection. Since 2020, we have delivered over 1,075 apartments across four stages, each designed to enhance wellbeing, connectivity and convenience through exceptional architecture and resident-focused amenities.”

[smartcode_project:default project_id=150065 project_image_fid=356089]

Residents benefit from an array of lifestyle facilities including a 4,000 sqm internal park, rooftop gardens and BBQ areas, wellness amenities such as an infrared sauna, yoga studio and gymnasium, plus co-working spaces, pet wash facilities, EV charging stations and a resident shuttle bus.&nbsp;

Sustainability remains at the core of the precinct with rooftop solar, smart energy meters, air and water filtration systems and groundwater reuse technology supporting efficient resource use.

Melrose Park Village was designed by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, who have led the design of the broader Melrose Park masterplan since inception, developing architectural principles that continue to guide the precinct’s evolution.

Michael Heenan, Design Lead at AJC Architects said the design is completely generated by AJC’s Urban Backyard concept.

"At the heart of Melrose Park Village is a generous green courtyard, a shared backyard for all residents. We designed it at the scale of a local park, a place for families to live, play and grow, capturing the spirit of the Australian backyard.”

The courtyard features nature play areas, a climbing wall and open lawns for social and recreational use. Heenan added that the team’s approach to smart city design, carbon capture and sustainability guided every aspect of the project.&nbsp;

“Stage 4 reflects our belief that density can improve liveability. By integrating architecture, landscape and open space, we have created a model for sustainable urban living that feels contemporary and distinctly Australian.”

&nbsp;

[smartcode_project:default project_id=150065 project_image_fid=356088]

&nbsp;

Melrose Park Village was delivered in partnership with <a href="https://www.apartments.com.au/builders/parkview">Parkview Constructions</a>, a trusted builder with whom Sekisui House Australia has delivered thousands of apartments across Sydney over the past 15 years.&nbsp;

Upon completion, Melrose Park will deliver more than 6,000 dwellings, 52,000 sqm of open green space featuring over 1,400 mature trees, new transport connections, a town centre set to open in 2026 and Melrose Park High School which is currently under construction and due to open in Term 1 2027.&nbsp;

This milestone marks another major step towards realising Sekisui House Australia’s vision to transform a former industrial site into a future-ready neighbourhood for over 12,000 residents.

[smartcode_project_cta:default project_id=150065]

Completion of Melrose Park Village marks a major step forward in $5 billion masterplan

Refinance

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Australian homeowners are skeptical about receiving unbiased advice from a bank when it comes to refinancing a home loan, according to research commissioned Mortgage Choice.

The research reveals two out of five (38%) homeowners are either in the process of refinancing or are considering making the move to a new loan.

However, 53% of homeowners are wary that if they speak to a bank they won’t be advised if they could get a similar or better home loan deal elsewhere. One in two (49%) homeowners feel that banks don’t always have their best interests at heart.

High levels of trust for mortgage brokers 

The survey results confirmed that a significant majority (94%) of Australian homeowners say they trust the loan recommendations made by a mortgage broker.

For half (55%) of the respondents surveyed, the number one benefit of partnering with a mortgage broker during the refinancing process is professional support comparing loan options, rates and features. For 45% of refinancers, a mortgage broker streamlines the process, “saving time and hassle”.

“Faced with what can be an overwhelming choice of home loans, homeowners want to be confident they are making the move to a loan that will improve their financial wellbeing through a lower rate, improved loan features, or both," Susan Mitchell, CEO of Mortgage Choice said.

“While banks can provide information on their own product suite, they do not have an in-depth understanding of competitors’ products. That is why I urge borrowers in the market for a better deal to engage the help of an experienced mortgage broker to learn what other options they have,” she added.
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Mortgage Choice found 53% of homeowners are wary that if they speak to a bank they won’t be advised if they could get a similar or better home loan deal elsewhere

urban.com.au

Australians are skeptical about receiving unbiased refinancing advice from banks

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Australian homeowners rank paying off their mortgage as their greatest life priority yet over 50% don't know the exact current interest rate on their home loan, according to new research commissioned by Mortgage Choice.

The research survey found a disconnect between the increased financial concerns borrowers are experiencing from COVID-19 and knowledge of whether their interest rate is competitive.

Only 46.5% of respondents knew their current interest rate, Much fewer in 2020 compared to previous surveys commissioned by Mortgage Choice (61.5% in 2018 and 71% in 2016).

This increased complacency comes at a time when the coronavirus pandemic has put more people under financial pressure. Over 62% of Australians admit that COVID-19 has caused them to worry more about money, with 65.6% trying to boost their resilience by saving more, spending less and improving their financial knowledge.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mortgage_choice_2020.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/mortgage_choice_2020.jpg?itok=Bk5UqzeU" width="580"></a></figure>"Our research suggests that Australians are more focused than ever on their finances, yet many are being complacent with their biggest expense and potentially biggest saving, Susan Mitchell, Chief Executive Officer at Mortgage Choice, said.

Homeowners aged 30 to 39 were the most likely to not know their interest rate (64.5%), with those aged 50 to 59 years close behind at 56.4%.

Ms Mitchell said, "it's so important to know your interest rate because if you’ve been complacent the chances that you are paying too much are extremely high. Every Australian should make it a New Year resolution to review their home loan. Give yourself an early Christmas present by reducing your rate and saving on repayments.”

However, Australians are not keeping track of interest rates or checking to see if they are getting the best deal. Asked how often they review their home loan, 13.7% said never, and 44.4% said every couple of years. Even fewer (41.9%) review their loan annually.

“I strongly encourage all borrowers who haven’t had their loan reviewed in the last 24 months to speak to their broker or their lender to learn if they’re still in a competitive home loan," added Ms Mitchell.

"In the past year alone, the cash rate has dropped by 65 basis points, and many lenders are open to negotiating on rate reductions. Let's say your principal and interest rate is 3.99% and shopping around with the help of a mortgage broker enables you to drop by 50 basis points to 3.49%. On a 30-year home loan of $600,000, the savings could be in the vicinity of $170 a month," she concluded.
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Only 46.5% of those surveyed by Mortgage Choice knew their current interest rate, much lower than 61.5% in 2018 and 71% in 2016

Majority of Australians don't know their home loan's interest rate

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Borrowers refinancing are at the highest levels in three years, according to data released by the ABS.
They're taking advantage of the lower interest rates, with a 7.7 per cent jump in the value of new homes loans being refinanced.
Owner-occupiers lead the charge, posting an 8.4 per cent jump in value, the highest value of refinanced loans since September 2016.
There was a surprise to see a drop in the number of loans to first home buyers over the month, down 0.7 per cent.
Sally Tindall, research director at RateCity.com.au, said the increase in refinancing activity came on the back of the June and July rate cuts.
“The first two rate cuts have clearly encouraged borrowers to sit up and take notice of their home loan 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/2019/10/11/Housing%20Finance%20August%20Westpac.jpg" alt=""> Source: Westpac
“We expect this trend will continue as refinance applications, that are still in the pipeline, are settled.
"The most recent cash rate cut, and the decision by most banks not to pass it on in full, is also likely to spur more refinancing activity."
There are suggestions the loosening of serviceability is starting to effect the market. 
Despite the value of owner-occupier loans soaring, the number of new loans for owner-occupiers rose just 0.7 per cent, suggesting there are bigger loans being approved as opposed to a large uptick in number of loans.
Westpac's Matthew Hassan said the 0.7 per cent rise in owner-occupier loans was considerably softer than the consensus forecast of a 2.3 per cent gain, however he noted approvals have risen 5.9 per cent from their April low.
<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/2019/10/11/New%20finance%20approvals%20Westpac.jpg" alt=""> Source: Westpac
Approvals are still down -5.1 per cent over the year.
Investors are well and truly back in the market. The 5.7 per cent increase in value of investor loans over August puts the value of loans approved up 10 per cent over the last two months, adding to the 4.2 per cent rise in July.
The values however are still 13 per cent lower than they were a year ago.
Mortgage Choice chief executive Susan Mitchell said the growth in demand from investors is unsurprising given the factors which may be positively impacting their appetite.
"The result of the Federal Election took the potential removal of property tax concessions off the table," Mitchell said.
"“Things are looking up for investors with the election now behind them, and the threat of negative gearing changes gone. 
<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/2019/10/11/Housing%20finance%20approvals%20by%20segment.jpg" alt=""> Source: Westpac
"As a result, once cautious investors may have been encouraged to put their buying plans in action. 
“Policy and pricing on investment loans are now much more favourable," Mitchell added.
"Investor rates have continued to tumble, in many cases further than owner occupier rates.
"This, combined with the relaxing of APRA’s serviceability requirements means the market is looking increasingly appealing for investors."
 
 
 
 
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jrobinson-rf4aSBido9

Borrowers taking advantage of falling interest rates

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Financial comparison site RateCity.com.au will be hosting Australia’s first industry home loan sale from Monday 8 May to 10pm Tuesday 9 May, offering refinancers exclusive deals and potential savings of up to $39,000 for customers of the big banks.
Lasting for only 40 hours, the Switch &amp; Save Sale will see eight home loan lenders come together to slash fees, offer cashbacks and cut rates.
Pre-registrations for the sale opened last week.
RateCity.com.au Money Editor Sally Tindall said there had been a huge influx of traffic to the site.
“Some of these deals could potentially sell out. 
“Our research shows that the average mortgage holder could save up to $39,000 on a 15- year loan,” she said.
“There are no up-front obligations, and customers have up to 30 days to take advantage of the discounted offer, provided they register within the initial 40-hour period,” she said.
RateCity’s Switch and Save Sale includes well-known banks such as ING Direct and HSBC, alongside competitive lenders such as Mortgage House, Reduce Home Loans, loans.com.au and IMB.
Ms Tindall said the climate was ripe for refinancing.
“With banks putting up rates out of cycle, alongside comparatively low wages growth, mortgage repayments are starting to pinch.
"Refinancing isn’t as hard as people might think,” she said.
The sale runs from 6am (AEST) Monday 8 May to 10pm (AEST) Tuesday 9 May 2017. 
For more information, <a href="https://www.ratecity.com.au/sale?utm_source=propertyobserver&amp;utm_medium=referral&amp;utm_campaign=rcsale_propertyobserver_text&amp;rmatt=tsid:1030695%7Ccid:54369%7Ccgid:543693734136%7Ccrid:15969003" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

RateCity home loan sale gives Australians the incentive to switch

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A survey from mortgage broker iSelect has found more than 34 percent of Australian households with a mortgage have never had refinance.
The survey, from Galaxy Research, found 56 percent of respondents who have not refinanced their home loan in the last ten years (or never) haven't done it because of a to perceived cost, lack of knowledge or hassle.
Laura Crowden, iSelect spokesperson, said research shows of those who refinanced in the last 10 years, 55 percent said the main benefit was lower repayments, 21 percent valued better features (such as an offset account or lower fees) and just 2 percent experienced no benefit whatsoever.
“Many home owners underestimate the savings that could be gained by switching to a new loan with a lower interest rate,” Laura said.
“Switching to an interest rate even just a few basis points lower can not only reduce repayments but potentially shave years off the length of the loan as well.
"For example, for a home owner with a $300,000 mortgage currently paying 5.25 percent, moving to a lower interest rate of 3.75 percent could save up to $267 in interest every month and more than $96,000 over the lifetime of the loan.
“Homeowners should act now to take advantage of the increased competition amongst banks and financial intuitions who are competing heavily for new customers with generous introductory rates.
“Whenever there is an RBA rate change, this should be a reminder to review your options and consult a home loan adviser to discuss your options.
"They will be able to talk you through all the financial jargon and find out whether a loan may offer a rate or features better suited to your lifestyle and budget."
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Survey finds over a third of Australian mortgage holders have never refinanced

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The robust growth in number of home loans (commitments) for owner-occupiers in December wasn’t the only heart-warming statistic from the latest ABS data, the refinancing of home loans for the month came in at a record high 20,911.
The number of new owner-occupier housing loans (commitments) rose by 2.6 percent in December, a near seven-year high, after rising by 1.9 percent in November. Excluding the refinancing of dwellings, the number of loans was up by 1.6 percent.
The record refinancing numbers mean that fresh spending power has been injected into the economy, says a note by CommSec Research.
The broader picture is that the home loan market remains in good shape and further confirmation of the health of the economy, it says.
Each month, lenders commit to provide funds for home purchases. Sometimes the commitments are taken up; other times budding buyers don’t find the home of their dreams. But in December, a record $23.8 billion was actually advanced to borrowers by lenders to buy or build homes, up 24.6 percent on a year ago. 
Loans by owner-occupiers for the construction of homes rose by 1.8 percent in December; loans to buy newly-erected dwellings rose by 12.4 percent; and loans for the purchase of established dwellings (excluding refinancing) rose by 0.4 percent. 
The number of refinancing transactions increased by 4.4 percent.
The proportion of first-time buyers in the home loan market rose from 14.9 percent to 15 percent in December. The figures take into account refinancing loans and as such may misrepresent the true situation. 
Overall, the rise in loan activity indicates that home building will remain healthy in the coming months. 
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