It’s hoped that with the federal election now in the past, new policies for home building will be expedited to reverse the declining level of approvals.

According to the latest figures from the Australian Bureau of Statistics, the total number of dwellings approved across the country took a tumble over the month of March. In seasonally adjusted terms, new home approvals decreased by 8.8% over February’s figures, to 15,220 in March. 

To meet the nation’s national accord targets Australia should be approving and completing roughly 20,000 homes per month to build 1.2 million new homes over five years. 

The decline in approvals was not limited to one type of housing, with multi-dwelling constructions (such as townhomes and apartments) down 15.1% and detached houses down 5.4%. 

Victoria and Queensland report largest declines 

The largest drop in approvals came from Victoria, where houses fell back 10%. In apartments, the state approved 671 dwellings in new apartment buildings, down from 2294 in February. 

Queensland also had a softer month, with an 8% drop in detached house approvals contributing to the fall. 

Apartments and houses on different paths 

While detached house approvals did not fall back as sharply as apartments, industry advocates were discouraged to see these figures fluctuate, particularly in annual terms. 

After rising 1.1% in February, houses fell 4.5% to 8,804 approvals, which is 3.3% lower than March 2024. 

Apartments had the opposite trajectory. While this housing type can be more volatile in terms of approvals, with major developments often swaying the figures, industry analysts still hope to see a level of consistency in multi-dwelling approvals, which is what February delivered with a 1.3% decline. 

The 15.1% drop in March was then a sharp dip. But as evidence of how much this figure has fluctuated in recent history, March 2025 still stood a whopping 47.1% higher than the approvals in March 2024. 

The Property Council’s group executive of policy and advocacy, Matthew Kandelaars, said that while apartment approval numbers were often variable, it was important that this pipeline had some level of consistency for the nation to have a chance of meeting its goal of building 1.2 million new homes. 

To help bring consistency into this sector, Mr Kandelaars stressed the importance of “stable tax and planning policies”. 

“Certainty is critical when these projects take years to build,” he said. 

Federal government urged to act quickly post-election 

“With the election behind us, now it is time to shift to the delivery phase,” Mr Kandelaars noted. 

The latest approvals figures set a clear mandate for new and returning lawmakers, coming just days after the 2025 federal election that returned the Labor party to power.  

Housing – and particularly home building – had become a flashpoint during the campaign, with Australian voters asking major parties what they intended to do about the nation’s current housing shortage. 

Labor put forward a $10 billion dollar plan to build up to 100,000 new homes for first-home buyers. The party says it will partner with state developers and the construction industry to build these new homes, which will be reserved for purchase by first-home buyers.    

It apparently proved more compelling to voters than the Coalition’s pledge, which involved allowing first-home buyers of newly built homes to claim a tax deduction on mortgage interest payments.  

Are you interested in learning more about home building? Check out our dedicated New Homes section.

The post Two states drive home building declines appeared first on realestate.com.au.

By Kelsi Karruli

With the Met Gala quickly underway in New York, we take a look at host Anna Wintour’s chic US$11.5 million (AU$17.8 million) New York City townhouse.

The star-studded event sees A-listers stepping out on the carpeted steps in glam and kicked off on May 5 New York time. This year’s dress code is Superfine: Tailoring Black Style.

The theme is inspired by the Metropolitan Museum of Art’s spring exhibition, which showcased the history and influence of Black style in menswear.

A press release from the Met revealed Hollywood heavyweights lucky enough to secure an invite would have to reimagine the Black “dandy” for their look.

“Dandyism offered Black people an opportunity to use clothing, gesture, irony, and wit to transform their given identities and imagine new ways of embodying political and social possibilities,” the release read.

This year’s Met Gala co-chairs are Colman Domingo, F1 driver Lewis Hamilton, A$AP Rocky, Pharrell Williams, and honorary chair, LeBron James. The group blends newcomers with veterans.

The committee includes Usher, Regina King, Spike Lee, Simone Biles and husband Jonathan Owens, Janelle Monáe, Doechii, Ayo Edebiri, and many more.

Although the editor in chief of Vogue, 75, recently shut down rumours that she approves every Met Gala look, she surely prepped for the event at one of her opulent abodes.

Since the extravaganza is taking place in Manhattan, the queen of fashion, who is known for her signature sunglasses and attention-commanding personality, has been using her US$11.5 million Greenwich Village townhouse as her primary residence.

The lavish, four-story estate sprawls across 3,690 square feet. The property comes complete with four bedrooms, five bathrooms, a study, and a full basement with a laundry room. It also features an open- concept floor plan.

Wintour secured the townhouse back in 1992 for US$1.4 million (AU$2.1 million). Realtor.com® now estimates that it’s worth US$11.5 million.

The property exudes elegance and was built in 1899 in the Greek Revival style, making it a highly sought-after gem.

Wintour isn’t the only A-lister to reside on the famous row. Over the years, a number of stars have called the MacDougal-Sullivan Gardens home, including Bob Dylan and Baz Luhrmann.

Singer John Hammond Jr., composer Edgard Varese, film director Francesco Carrozzini, and even actor Richard Gere have also held the keys to properties in the area.

In addition to her NYC pad, Wintour also owns a sprawling Long Island home, which is in the prestigious town of Mastic and sits on the edge of the Forge River.

Her property is accessed by a private gravel road and boasts over 42 acres.

She purchased the property in 1998 and had snapped up the adjacent abodes by 2013, creating a real estate empire for herself in the town.

Her home, which she once shared with ex-husband Shelby Bryan, boasts a Colonial style and was decorated by Carrier and Company.

Although the Hamptons are known for their luxurious properties and residences, Wintour previously revealed she wanted something more rural so she could have her own retreat.

The interior is adorned with calm neutral tones, stripes, and ruffles, all over worn wood.

The open floor plan features multiple bedrooms, many cozy fireplaces, a library, and several seating areas.

The home’s exterior is surrounded by lush landscaping and covered in soft pink flowers.

Although the Met Gala is certainly fashion’s most glamorous night, Wintour revealed things were still coming together even in the final hours leading up to the event.

She told Good Morning America, “It’s locked in, but you know, ‘locked in’ and ‘happening’ are very different things.”

Madonna, Diana Ross, Stevie Wonder, Rhianna, Charli XCX, Demi Moore, and Nick Jonas are just some of the A-listers who made an appearance.

This article was originally published on Realtor.com and has been updated.

The post As the Met Gala gets underway, we look inside Anna Wintour’s US$11.5 million New York City townhouse appeared first on realestate.com.au.

Refinancing activity is primed for a surge — but not the way we’ve seen in the
past.
It used to be that when rates dropped, demand would stay high for weeks or even
months. Lenders had time to scale up operations and ride the wave. Now, demand
comes in short, sharp bursts, triggered by even the slightest rate drops.
Take April 2025 for example. Mortgage rates briefly fell to 6.61%, their lowest
point since October 2024. In just one week, refinance applications shot up 35%,
hitting their highest point in six months. The average loan size also jumped to
$399,600 — the second-highest ever recorded.
Unfortunately, this brief spike didn’t last. By mid-April, rates had bounced back to
6.90%, erasing nearly 30 basis points in just two weeks.
But it did offer a valuable lesson: when rates dip, borrowers are ready to move —
and they will gravitate toward the lender that makes the process easiest. And in
today’s market, the real risk isn’t just missing a fleeting opportunity — it’s losing
existing customers to competitors who deliver a faster, more seamless
experience. The next time rates fall, it won’t be enough to simply be available.
Lenders must be ready to engage borrowers instantly, or risk losing them for
good.

A shifting market demands a faster response

Many borrowers who locked in loans over the past few years are sitting on
tappable equity and watching the market closely. According to the Consumer
Financial Protection Bureau (CFPB), if rates ease to 6.5%, roughly 2.5 million
borrowers could refinance. If rates drop further to 5.5%, that number jumps to
more than 7 million.
In other words, millions of borrowers could become eligible in a very short
window. This will create a surge in demand that lenders must be prepared to
capture.
The brief refinance surge in April 2025 made the stakes clear. When rates dipped,
applications jumped — but the window closed just as quickly. Lenders who
weren’t prepared with digital experiences, pre-filled applications, and instant
decisioning missed out on the opportunity.
Lenders no longer have weeks to react. They have days — sometimes just hours
— to meet borrowers where they are, before the opportunity slips away.
Meanwhile, big servicers like Rocket already have the advantage. With fully digital
workflows and always-on borrower engagement, they can deliver personalized
offers the moment a borrower becomes eligible — capturing business before
others even have a chance to respond.
And the gap is only growing. Rocket’s acquisition of Mr. Cooper signals a new
phase for the industry: one where servicing and origination technology are fully
connected to enable real-time borrower activation. The largest players aren’t just
managing portfolios — they’re building the infrastructure to monetize them
instantly when rates shift.
In this environment, lenders have one shot to capture refinance opportunities —
and speed matters more than ever.

How to compete (and win) against the giants

Lenders don’t need to match the largest servicers in size or spending to stay
competitive. What they need is a better borrower experience — one that makes
refinancing faster, simpler, and more intuitive at exactly the moment borrowers are
ready to act.
Today’s borrowers expect an experience that feels as easy as the digital services
they use every day — one that doesn’t require lengthy forms, manual paperwork,
or multiple phone calls to get started. The lender that removes barriers and
delivers a seamless experience will be the one that earns the borrower’s trust —
and their business.
Blend’s Rapid Refi solution is built to help lenders meet this moment. It’s
specifically designed to maximize early-funnel conversion and re-engage past
borrowers at scale. Instead of relying on outbound calls or marketing campaigns
to chase borrowers, Rapid Refi makes it easy for them to return on their own — by
delivering a fast, intuitive refinance experience that’s personalized, self-serve, and
available the moment they’re ready to act.
Borrowers can move from inquiry to intent-to-proceed (ITP) in a single session —
typically in just 20 minutes, compared to the industry average of seven days.
Smart automation, data-driven qualification, and borrower self-serve workflows
also help lenders accelerate time to close by up to 3x, giving them the ability to
capture volume quickly when rate opportunities emerge.
Critically, Rapid Refi enables lenders to scale efficiently during market surges —
eliminating the need for large staffing increases to handle temporary spikes in
demand. By removing unnecessary friction and delivering a connected, intuitive
borrower journey, lenders can drive higher retention rates, build deeper customer
loyalty, and protect revenue growth in an increasingly volatile market.
In a landscape defined by fleeting rate windows and rising borrower expectations,
simplicity and speed aren’t optional — they are the foundation for competitive
advantage.

Conclusion

The next wave of refinance activity will not unfold the way it has in the past.
Opportunities will appear quickly — and disappear just as fast. Lenders who are
prepared to deliver a fast, seamless experience will be best positioned to retain
their existing customers and grow their portfolios, even in a highly competitive
environment.
Success in this market will come down to meeting borrower expectations for
simplicity, speed, and trust. Traditional refinance processes, which often rely on
manual steps and delayed decisioning, will no longer be enough to compete.
Blend’s Rapid Refi solution is designed to help lenders address these challenges
head-on. By combining automated workflows, data-driven qualification, and
self-serve borrower experiences, Rapid Refi enables lenders to engage customers
early, move quickly through the process, and close loans with far greater
efficiency — all while strengthening borrower relationships.
Institutions that invest now in modern, connected refinance experiences will be
better equipped to capture fleeting opportunities, protect their customer base, and
build long-term growth.
Learn how Rapid Refi can help you retain more customers and capture more
opportunities.

Click Here

By diving deeper into these strategies, Amy Chorew and Maeda Palius write, you safeguard your finances and build a more informed, agile approach that could serve you for decades.

Hanna slammed the National Association of Realtors’ MLS rules in a conversation with Inman prior to the Gibson settlement last week, saying Clear Cooperation and IDX limit broker innovation.