Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Westpac

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Westpac Group, the nation's second largest mortgage lender, has told mortgage brokers to grill clients on why they want an interest-only loan.
They are to "make them aware of their features and considerations".
</div>
<div>Brokers must note the client's answers and include them in the application.</div>
<div>
"It is important clients can provide clear reasoning for their choice of loan and can demonstrate an understanding of an interest-only loan and its features so we can have confidence our product aligns to their needs," a bank spokesman told Fairfax Media.
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j.ballantyne1990-6AQqhLzZaK

Westpac tells mortgage brokers to quiz investors on IO rationale

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Dwelling approvals came in weaker than expected with a 5.6% fall in May vs market expectations of a 1.3% decline. Total approvals were down 19.7%yr.
The decline was driven by a 12.1% drop in ‘units’, with a 0.6% gain in private house approvals providing some offset. Nationally, May saw the second lowest monthly reading on high rise approvals since June 2013 – the lowest being the weather-affected read in March.
The detail points to a sharp drop in ‘high rise’ (–20%mth) concentrated in NSW and Qld where total approvals were down 16% and 10.5% respectively. 'High rise' approvals have slumped –45% vs a year ago. Other segments continued to hold up better, 'low rise' approvals down –8.4%mth, –16.5%yr and private detached houses approvals up +0.6%mth, –6.8%mth, broadly consistent with some firming in construction-related housing finance approvals. That said, all segments are down on a year ago.
All major states are also seeing total dwelling approvals down on a year ago, the one exception being SA which has seen a strong lift in recent months led by high rise approvals (though still at a very low level). Aside from this and the aforementioned weakness in NSW and Qld, total dwelling approvals lifted 4.7% in Vic and fell 8.9% in WA.
The value of renovation approvals rebounded 12.7% in May from a 15.2% drop in April but are still down 6.2%yr and trending lower.
Non res building is more promising with a 5.3% gain in the value of approvals in May maintaining a solid uptrend. Recent strength has been across a range of sub-segments including offices, retail, hotels &amp; recreation, and education.
In terms of the total value of building – new dwellings, renovations and non residential building combined – approvals are down 13.2% vs last year's peak but have risen 7.4% since the start of the year. The state split shows the pull back concentrated in NSW and Vic with other states posting a modest gain on a combined basis.
Coming back to the more specific picture around housing, the May approvals update again highlights the dominance of high rise in the current cycle with the dramatic reduction in approvals over the last year set to drive a downturn in construction.
As discussed elsewhere, our analysis suggests it will take some time yet for the turnaround to impact aggregate activity and will tend to see a longer more protracted downturn than the short sharp cycles seen in the past.
March quarter building activity data due next week will give an updated view on the pipeline, which also looks to have been impacted by weather events early in the year. 
Non high rise approvals and wider housing market conditions are an important swing factor that could amplify the downturn – so far both appear to be holding up reasonably well although the full impact of macro prudential measures and other negatives has yet to be felt.
Matthew Hassan is a senior economist for <a href="https://www.westpac.com.au" target="_blank">Westpac</a>.
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Australian dwelling approvals weaker in May: Westpac's Matthew Hassan

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After interest rate hikes for investors, Westpac has now turned its attention to self-managed superannuation funds with likely changes including halving the maximum interest-only repayment term from 10 years to five.
SMSF property investors will be slugged with tougher rates, policies and processes in the lead up to this weekend's changes to caps on tax concessions being imposed by the federal government, The Australian Financial Review reported.
Westpac subsidiaries Bank of Melbourne, BankSA, St George, are also increasing mortgage rates for interest-only property buyers.
"This will help us meet our regulatory requirements and apply responsible lending practices in assessing a customer's ability to pay," a bank spokesman told the AFR.
Also, for a loan application, there has to be a minimum SMSF balance of $200,000.
"There are no exceptions to this requirement," the bank is warning clients.
SMSF trustees will also have to complete a new statutory declaration stating that customers have sought independent financial and legal advice when applying for an SMSF loan.
There are about 570,000 funds with about $654 billion under management and 1.1 million members, according to the AFR.
Borrowing – or gearing – for property by SMSFs has always been a debated issue because too much exposure to property could be a disaster in the event of a housing market crash.
A 2014 Financial Systems inquiry recommended that SMSF borrowing should cease.
Real property within SMSFs grew from $15 billion in 2003-04 to more than $100 billion by the end of last year, statistics from the Australian Taxation Office show.
Westpac changes, which are expected to be followed by other major lenders, will be imposed as the federal government introduces changes to concessional and non-concessional caps are introduced this Saturday.
That means the use of limited recourse borrowing arrangements will be included in a member's total superannuation and $1.6 million transfer balance cap calculations.
Lenders face higher risk with a limited recourse loan because it is debt in which the creditor has limited claims if a default occurs.
A typical SMSF property investor will pay about 5.85 per cent for a loan, which is about 135 basis points higher than for an investor loan outside a fund.
Over a 25-year term a borrower would make additional repayments of more than $270,000, assuming rates remained constant, according to analysis by Canstar.
Several other lenders have already restricted access to interest-only loans for SMSF by either no longer offering them or imposing strict loan-to-value ratios.
SMSF investors continue to increase exposure to listed trusts and other managed investments, latest analysis by the ATO shows.
For example, more than $207 billion is held in listed trusts compared to about $14 billion in 2012 as the global economy struggled to recover from the global financial crisis.
During that time cash and term deposits have fallen from about $134 billion to $28 billion.
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jonathanchancellor-7SQnKwU6yx

Westpac to introduce tough rules for lending to SMSFs

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Westpac has increased interest only rates for variable home loans for owner occupiers and investors.
Owner occupied interest only rate will increase by 34 basis points to 5.83 percent p.a.
Investor interest only rate will increase by 34 basis points to 6.30 percent p.a.
Westpac have also announced an eight basis points reduction in variable interest rates for customers paying principal and interest on their owner occupier home loans.
It takes the standard variable rate for these owner occupiers to 5.24 percent p.a.
These rate changes are all effective from 30 June 2017.
George Frazis, chief executive of Westpac Consumer Bank, said owner occupier customers who make principal and interest repayments as they will benefit from lower interest rates allowing them to pay off their loans faster.
“We hope the rate reduction will encourage owner occupier customers with interest only home loans to switch to principal and interest repayments, helping them to pay down their home loan in this low interest rate environment. There will be no switching fee. 
“We understand the significance of interest rate changes to our home loan customers, so we try to balance the needs of both owner occupiers and investors in making these decisions.
“APRA’s limit on new interest only lending is 30% of new residential mortgage lending, so we have to continue to make changes to our interest only rates and lending policies to meet this benchmark,” said Mr Frazis.
“Today’s decision is not in response to the Federal Government’s recently announced bank levy,” Mr Frazis told Broker News.
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Westpac encourages the switch as its lifts interest only home loan rates

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The Westpac Melbourne Institute Consumer House Price Expectations Index fell 1.1 percent in April but at 151.4 remains well above the long run average of 126, according to Westpac’s latest Red Book report.
Adjusting for seasonality, expectations look to have eased slightly since January Westpac says.
“While recent moves by regulators and in interest rates may have contributed to the April move, the cooling in price expectations is modest at best.
That is not surprising – while the intent may be clear, regulatory changes are less ‘visible’ for consumers than RBA rate moves and their ultimate impact more difficult to assess,” the report stated.
Price expectations may only respond once markets have shifted Westpac says.
Click to enlarge
“It is worth noting what happened during the previous round of regulatory tightening, announced in December 2014 and deployed in 2015.
The main impact on auctions and finance activity came in 2015 H2 with price growth stalling flat late in the year and in early 2016.
Consumers’ price expectations started to fall from mid-2015, the index sliding 29% by December,” the report commented.
Also notable is the quick revival following the RBA’s rate cuts in May and August 2016 Westpac says.
Click to enlarge
“The main takeaways from the sub-group detail are: 1) no correlation with wider sentiment shifts; and 2) most holding in NSW and Victoria but rising in Queensland and Western Australia (now clearly positive),” the report stated.
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House price growth expectations falling, but remains above the average: Westpac

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Westpac has raised the fixed rates attached to nearly all of its interest only packaged loans.
The bank lifted fixed rates by up to 30 basis points, with interest only rates for owner occupiers now on par with the rates available to investors. 
Owner occupiers on interest-only fixed loans will be the hardest hit — iincreasing rates by 30 basis points across 1, 2, 3, and 5 year fixed deals.
Westpac’s sister banks St.George, BankSA and Bank of Melbourne also joined the rate hike with increases of up to 25 basis points.
A small number of four year fixed rates were slashed however, with 25bp being the most generous cut among them. 
This news comes after CommBank hit investors across 14 of its mortgage products last Friday, with hikes of up to 0.50 basis points.
Last month Westpac increased its variable home loans interest rates for: 
<ul>
<li>Owner occupiers customers by 0.03% to 5.32% per annum with principal and interest repayments (comparison rate 5.46% per annum*)</li>
<li>Owner occupiers customers by 0.08% to 5.49% per annum with interest only repayments (comparison rate 5.63% per annum*)</li>
<li>Residential investment property loan rate customers by 0.23% to 5.79% per annum with principal and interest repayments (comparison rate 5.93% per annum*)</li>
<li>Residential investment property loan rate customers by 0.28% to 5.96% per annum with interest only repayments (comparison rate 6.01% per annum*)</li>
</ul>
 
Comparison site finder.com.au found the likely <a href="https://www.finder.com.au/bank-interest-rates" target="_blank">average home loans rates</a> (below).
They compared the <a href="https://www.finder.com.au/cheapest-home-loans" target="_blank">cheapest home loan rates available</a> and found UBank have the lowest interest rates at 3.74 percent.
<a href="https://www.propertyobserver.com.au/images/2017/04/26/Finder%20home%20loans.jpg" target="_blank">Click here to enlarge</a>.
<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/2017/04/26/Finder%20home%20loans.jpg" alt="" width="614" height="184">
Mozo have too <a href="https://mozo.com.au/home-loans/fixed-rate" target="_blank">compared the best fixed rate home loans</a>, suggesting CUA offer the lowest interest rates at 3.84 percent.
In a ratecity.com.au's '<a href="https://www.ratecity.com.au/home-loans" target="_blank">Todays top loans section</a>', Beyond Bank offers a rate of 3.88 percent.
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Westpac raise interest-only fixed rates for owner occupiers and investors

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Westpac has raised its home loan interest rates, soon after NAB announced similar hikes, with both banks citing increasing funding costs.
But the banks are also reacting to heightened regulatory concerns as to the pace of lending.
Today ASIC chairman Greg Medcraft said he had "been saying for a while that I thought it was a bubble and other people are catching up now." 
<div>
"Its Sydney and Melbourne [where prices are rising] so I think macroprudential are useful tools."
He said there were two aspects to macroprudential policies - the "prudential" aspect which impacts capital and the "conduct" aspect which regulated responsible lending.
</div>
<div>Medcraft said ASIC had played an active role with regard to conduct citing ASIC's report on mortgage broking and on interest only loans. </div>
The country’s second-largest bank said variable home loan rate for owner occupiers will increase by 0.03 percent to 5.32 percent per annum for customers with principal and interest repayments.
For owner occupiers on a variable home loan rate and interest-only repayments, there is a 0.08 percent increase to 5.49 percent per annum. The new rates come into effect on March 24.
For investors, the increases are higher with variable loan rate rising by 0.23 percent to 5.79 percent per annum for principal and interest repayments, while for interest only repayments, the increase is 0.28 percent to 5.96 percent per annum. 
The rate hike was because of a economic and regulatory factors, said George Frazis, chief executive of Westpac Consumer Bank.
“Today’s changes are in response to increasing funding costs. Despite home loan interest rates being at historically low levels, both deposits and wholesale funding of mortgages have increased over the last nine months,” he said.
 “We understand the significance of interest rate changes to our home loan customers, so we take a very careful approach to these decisions.”   
Customers with interest only home loans who wish to move to principal and interest repayments can do so without paying a switching fee until 17 June 17, 2017.
Variable lending products for small businesses will also increase by 0.08 percent from April 3, the bank said.
Late last week, National Australia Bank lifted home loan rates by as much as a quarter of a percentage point, citing rising funding costs and increased regulation.
NAB raised its rates for owner-occupiers from 5.25 percent to 5.32 percent while for investors, it is now 5.8 percent from 5.55 percent previously. 
   
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Westpac follows NAB in raising home loan interest rates

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The Westpac Consumer Risk Aversion Index results show a shift away from investing in real estate in favour of debt reduction and deposits.
Westpac’s first Red Book in 2017 found a shift back towards increased risk aversion late last year has carried into year end with an Index reading of 38 in December in line with September and compared to 19 a year ago.
Component-wise the main shift over the year has been away from ‘real estate’ (14% vs 23%) towards deposits (29% vs 26%) and ‘repay debt’ (21 percent vs 18 percent). There was a slight dip in the proportion favouring shares, from 10 percent to 9 percent. A relatively high 6 percent reported ‘don’t know’.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/wes-5.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/03/wes-5.jpg" alt="">
The accounts showed the household savings ratio at 6.3 percent, down from 6.7 percent in Q2 and 7.2 percent a year ago. Technical changes to assumptions underlying depreciation estimates have resulted in a downward level shift in savings rate estimates over the last decade.
Both the composition of income and spending shifts and the state detail continue to point to budget constraints as the main driver of lower savings rather than an easing in risk aversion and ‘precautionary’ savings.
Declines have been led by mining states where income pressures are more of an issue with a partial offset coming from rising savings elsewhere.
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Consumers view real estate as a more risky investment: Westpac 

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ASIC has today commenced civil penalty proceedings in the Federal Court against Westpac Banking Corporation for a number of contraventions of the responsible lending provisions of National Consumer Credit Protection Act 2009 (Cth) (the National Credit Act).
ASIC alleges that in the period between December 2011 and March 2015 Westpac failed to properly assess whether borrowers could meet their repayment obligations before entering into home loan contracts.
Specifically, ASIC alleges that Westpac:
<ul>
<li>used a benchmark instead of the actual expenses declared by borrowers in assessing their ability to repay the loan</li>
<li>approved loans where a proper assessment of a borrower's ability to repay the loan would have shown a monthly deficit</li>
<li>for home loans with an interest-only period, Westpac failed to have regard to the higher repayments at the end of the interest-only period when assessing the borrowers' ability to repay.</li>
</ul>
The National Credit Act provides consumer protections to ensure that credit providers make reasonable inquiries about a borrower's financial situation and assess whether a loan contract will be unsuitable for the borrowers.
The first hearing for the proceedings will be on 21 March 2017 at 9.30am in the Federal Court in Sydney.
 
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ASIC announces civil penalty proceedings against Westpac

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A former Westpac home finance manager has been jailed in the Southport District Court to three years imprisonment, to be released after six months on a recognisance order. 
David St Pierre was found guilty on three counts of dishonest use of his position, with the intention of directly or indirectly gaining an advantage for himself or others.
ASIC alleged that between July 2008 and June 2010, St Pierre submitted loan applications for approval knowing they contained false information and documents. 
St Pierre obtained over $2.5 million for Westpac customers, that they invested with a now failed Tasmanian property development scheme, operated by Capital Growth International Club Pty Ltd (CGIC) and All About Property Developments Pty Ltd (AAPD).
"St Pierre's actions betrayed the trust of his clients and caused them significant financial harm. This sentence showed such behaviour will not be tolerated,” ASIC Commissioner Peter Kell said.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
St Pierre's recognisance is in the sum of $1000, conditioned that he be of good behaviour for a period of 3 years.
ASIC's investigation found that the customers to whom the loan applications related were elderly and vulnerable and with limited financial means, yet in spite of this, St Pierre encouraged them to borrow against their homes, some of which were unencumbered, to invest with CGIC and AAPD, which promised returns of 12–20% per annum.  
The customers received monthly interest payments from CGIC and AAPD after they invested, however, the interest payments stopped shortly before a liquidator was appointed on 28 February 2011. This left customers without sufficient income with which to repay their loans to Westpac.
Westpac has compensated customers who obtained loans from Westpac through St Pierre in relation to amounts they invested in CGIC.  Westpac has also compensated investors who did not borrow funds from Westpac but claimed to have had some direct contact with St Pierre before making their investment in CGIC. 
In March 2014, ASIC permanently banned Mr St Pierre from engaging in credit activities and providing financial services.
 
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