Prices for basic two-bedroom units in Brisbane have surpassed $1m and risen by $100,000 in a matter of weeks since the expansion of the federal government’s five per cent deposit scheme — fuelled by a first homebuyer frenzy.

The Real Estate Buyers Agents Association of Australia (REBAA) has reported a “frenzy of buyer activity” since the announcement of the expansion of the Home Guarantee Scheme on October 1, with the price of some units surging by $100,000 in just six weeks.

Agents on the ground are reporting a particular spike in interest — and price — for two-bedroom, one-bathroom apartments that were once overlooked for not being big enough.

A two-bedroom unit in this complex in Moreton St, New Farm, sold in October for $1.001m.

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“If you said to me 12 months ago; ‘I’ve got a two bed, one bath, one car, what’s it worth?’, I’d say probably around the $700,000 range,” Ben Lobie of Rissman Property said.

In the past few weeks, he sold one in James Street, New Farm, for $920,000, one in Kent Street for $955,000, and recently sold one in Moreton Street with no balcony and unrenovated for $1.01m.

Another two-bedder in Pidgeon Close, West End, sold in October for a staggering $1.15m.

This two-bedroom unit in Pidgeon Close, West End, just sold for $1.15m.

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“It’s because the types of buyers for these have changed now,” he said. “Instead of an investor buying…this is someone’s home. You’re seeing younger couples who look like they’ve had breakfast at James Street coming to open homes and they’re now buyers.”

The scheme removes place and income limits and raises property price caps, enabling more first home buyers to enter the market with a five per cent deposit as well as no Lenders Mortgage Insurance.

Mr Lobie said investors were now selling out, realising the opportunity to cash in, and first homebuyers were stretching their budgets to get in to the market.

A two-bedroom, one-bathroom unit in this complex in James St, New Farm, recently sold for $920,000.

“Two years ago, these buyers would have said; ‘No second bathroom doesn’t work for us,” he said. “Now, it’s; ‘I’ll take the lifestyle thanks and worry about that later when I have kids’. “It’s like a tap that’s been turned on. They’re buying with confidence, but they’re stretching.”

REBAA president Melinda Jennison said prices had jumped $100,000 for units and townhouses in some complexes in Brisbane in the past six to eight weeks as buyers started to panic about the impact of the scheme on the wider market.

“Our team has seen prices that completley astound us, especially in the unit and townhouse market,” Ms Jennison said.

“Properties that previously would have transacted for mid-$600,000 are all of a sudden transacting in the high $800,000s — it’s alarming.

“These are entry level apartments that five years ago no one wanted to buy.”

Ms Jennison said the “rapid price escalation” since the announcement of the expansion of the scheme had been more surprising than expected, with buyers of all types flooding the market — not just first homebuyers.

“And, it’s not just one random buyer stretching to buy,” she said. “These properties are being sold with, sometimes, in excess of 15 to 20 offers.”

Real Estate Buyers Agents Association of Australia president Melinda Jennison. Photo: Supplied

Ms Jennison said buyers needed to “calm down, stick to their budgets, and seek out expert advice from professional buyers’ agents” to ensure they did not overpay because of a fear of missing out.

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An architectural marvel built with over 1000 tonnes of concrete and crowned Australian Home of the Year has landed on the market with a price guide above $4 million. 

Perched above the dramatic, tree-lined hills of the Separation Creek coastline — a locality positioned on the iconic Great Ocean Road — this custom-built house at 14 Mitchell Grove is making headlines once again.

Designed by Crosier Scott Architects and meticulously constructed by its builder owner, the multi-level residence made headlines last year when it was bestowed the ultimate accolade by the Housing Industry Association: Australian Home of the Year.

“The owner wanted to build a family beach house for his wife and four children to enjoy,” said local agent, Marty Maher, of Great Ocean Properties.

“He challenged himself to push all the limits to create something incredibly special.”

Recognised nationally for its breathtaking precision and artistry, the four-bedroom home has been designed to seamlessly integrate into its coastal environment, presenting a powerful fusion of industrial scale and understated luxury.

“This is not just a house, it’s an iconic work of art that has been judged and crowned the best in the nation,” Mr Maher said.

“To have a HIA Australian Home of the Year on the market is truly special — it’s just such an extraordinary house.” 

The property offers an enviable vantage point over one of the Great Ocean Road’s most beautiful stretches, capturing expansive ocean and hinterland views.

The construction required the pouring of over 1000 tonnes of in-situ concrete on a challenging, steep site.

Inside, burnished concrete floors meet solid timber detailing and bespoke, grain-matched kitchen cabinetry. 

“One of the stand-out features is the property’s ability to interact with natural elements of the nearby beach and ocean,” enthused Mr Maher.

“The whole top floor can open up with retractable glass and it’s quite spectacular when you walk in with the whole panoramic view uninterrupted before you. 

“The other aspect is the temperature control year round. In cool or hot weather the concrete construction stays relatively stable and the hydronic heating maintains this stable temperature through winter.”

The property’s award-winning pedigree is expected to draw significant interest from prestige buyers with early interest coming primarily from Melburnians who are familiar with the area. 

Mr Maher is very confident that the property will smash the area’s current ceiling price. 

“The build quality is just extraordinary,” he said. “So yes, it will break a record for the Separation Creek, although these price points are common in its Great Ocean Road neighbour, Lorne.

“In fact, it would be a $6 million-plus price point if it was in Lorne. So, buyers can save $2 million by driving 15 minutes and acquire themselves a piece of Australian architectural history, which cannot be replicated.” 

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In the coastal town of Barwon Heads, next to Ocean Grove, properties remain in families for generations. But with some long-term locals moving into aged care, an exciting opportunity has opened up.

Of around 25 properties on the riverfront in Barwon Heads, the laid-back beach town on Victoria’s Bellarine Peninsular, only around six are old homes.

Most original houses have long been replaced by large, modern ones that dominate the shoreline.

The four-bedroom, two-bathroom property at 49 Flinders Parade, Barwon Heads was last renovated around a quarter of a century ago — but that hardly matters.

Any waterfront home up for grabs along this prized stretch of coastline is a big deal.

“Up on the Gold Coast, people build places on the water to sell them. That just doesn’t happen here. These are generational homes that people keep,” said agent Levi Turner at Bellarine Property.

Occupying a 639sqm block with 16m of absolute waterfront, the two-storey house on Flinders Parade enjoys sweeping vistas across the Barwon River to the bridge, bluff and Ocean Grove.

“You get views of the water from pretty much every room. You walk out the back gate and you’re on the sand, then you can just walk into town along the beach, which is pretty cool,” Mr Turner said.

The property is being offered via a six-week expressions of interest campaign, with a guide price of $5.8m-$6.3m.

While the median house price in Barwon Heads sits at $1.44 million, riverfront homes can fetch up to $9 million.

Dated yet full of character, the home features a highly flexible floor plan. The entry opens to a family area that leads to an open-plan kitchen, living and dining space. This flows out to a sheltered, east-facing terrace and lawn, which simply slips into the water.

The ground level includes two possible bedrooms and a rumpus room, while upstairs there are three more bedrooms. Outside, there’s a garage and a store room.

Mr Turner said the property “may not be ultra-modern but it’s in fine condition”.

Though he expects it will eventually be knocked down and rebuilt like others along the river.

The current owners, who are leaving their beloved home and moving into aged care, are quoted in the listing as saying that “waking up to the sunrise over the river never loses its magic”.

“The water feels like an extension of our backyard — we can kayak, swim or just sit and watch the tides roll in. It’s a lifestyle that feels like a holiday every day,” they add.

Mr Turner said there had been steady interest from locals looking to upgrade in the area.

“We’ve had about three people go through it, which doesn’t sound like a lot, but at $6 million, you’re not going to be inundated with buyers in our town.

“Of those, two are genuinely interested and both already have a property in Barwon Heads,” he added.

“People just love this area.”

The post Original waterfront beach shack in tightly held pocket has $6m price tag appeared first on realestate.com.au.

After a decade of home price growth, many homeowners today are sitting on a mountain of equity. Tappable equity hit a record high in Q2 of this year, when 48 million mortgage holders reportedly had an average of $213,000 in accessible value. 

That growing equity has translated into a renewed interest in home equity (HE) products over the years. Homeowners are still largely leveraging these products to fund home renovations, but debt consolidation is a growing factor – surging from 25% in 2022 to 39% in 2024, according to the MBA’s Home Equity Lending Study. 

However, it’s not enough to just know why homeowners are tapping into their equity. Lenders must also position themselves to offer competitive products that meet the needs of their borrowers. Differentiating HE lending products is possible, and it starts with delivering faster turn times and a stronger consumer experience. 

Time for a change 

In a foot race and in the lending industry, speed wins. There are certainly opportunities for lenders to edge out the competition when it comes to closing timelines on home equity products. According to the same MBA study, it took an average of 38 days to close on a HELOC in 2024 (7 days longer than the previous year). Processing times for home equity loans took an average of 37 days. While that may be the average, it doesn’t have to be the norm. New automated technology has the potential to reduce HE timelines, down to as few as 8 days or less, which is more in line with consumers’ expectations when it comes to speed. 

Achieving faster turn times 

For lenders truly looking to move the needle, faster HE transactions start with partnering with experienced providers that offer a range of solutions. Let’s take a look at some key stages and how each one can benefit from a tech-forward approach. 

The delivery of title decisions used to take days, but now they’re down to minutes. The infusion of automation into the underwriting process has led to the emergence of instant title solutions. Generally speaking, cloud-based automation engines search historic property data, then deliver a snapshot of the title status along with visibility into any potential risks. This helps lenders instantly determine how quickly they can close the loan, followed by the opportunity to set expectations with the borrower up front. This technological advancement provides not just speed, but smarter, more accurate underwriting – which is a win for all involved. While many providers claim to offer instant title, not all products are the same especially when it comes to the quality of data sources and scope of coverage. Consider partnering with those that have stability and longevity in the title space, as well as clearly defined data protection measures. 

Another speed differentiator is consumer-facing scheduling apps. They give borrowers the opportunity to click a button and schedule their own closing appointment for the exact date and time that they desire, cutting out the phone tag that often can stall a transaction. ServiceLink’s proprietary scheduling solution, for example, provides real-time calendars of qualified notaries, so that borrowers (or their lenders) can select the first available time slot, thus keeping the transaction moving forward. In addition to requiring little-to-no tech lift for the lender, this solution has been proven to reduce closing timelines by days. 

Time savings can also be achieved through providing borrowers with eClosing solutions that fit their comfort level. While some may opt for traditional in-person, wet-ink signings, others are eager to use virtual solutions that allow for more flexibility. Therefore, lenders that offer multiple options like: remote online notarization (RON), in-person electronic notarization (IPEN) and hybrid signings can not only provide borrowers with personalized choices, but also streamline their processes. eClosing solutions can be up to 15 to 20 minutes quicker – freeing up notaries to certify more documents in less time – and they cost less to produce, which saves the lender money. 

For lenders looking to create even more efficiencies, consider modernizing the signing experience under a single provider, one that can manage RON and other hybrid solutions. Working with a single signing partner also eliminates the need for lenders to manage multiple relationships and enables them to scale their signing solution much more easily.

A better borrower experience

Today’s borrowers are eager to utilize new technologies because they recognize the benefits. In the 2025 ServiceLink State of Homebuying Report, 59% of borrowers said they appreciate mortgage technology because of its convenience and ease of use, while another 51% touted the time savings that technology provides. 

A tech-enabled approach to the mortgage process means that lenders can deliver transparency by clearly communicating to their borrowers exactly what they can expect from the application through the signing. Additionally, offering consumer-facing tech options is another way to meet their needs. Providing that consistent, customer-centric experience ultimately boosts satisfaction and creates brand loyalty. 

Meeting the borrower’s expectations for speed, accuracy and convenience is utterly important and can prove to be a real differentiator in a crowded market. The time is now to invest in technologies that support those pillars in order to bring your organization to a new level of efficiency and borrower satisfaction.

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The housing market upswing is getting stronger, with price growth quickening and home values smashing records.

The pace of home price growth accelerated last month off the back of interest rate cuts and new buyer incentives, according to the PropTrack Home Price Index.

The national median value grew by 0.6% in October, which was the fastest rate of monthly price growth recorded so far this year.

Values are now sitting 7.5% higher than a year ago – an annual rate of price growth not seen since May last year.

Prices rose in every capital city and region in October and are at record highs in all capitals except Hobart and Canberra.

The market’s stronger growth comes after three interest rate cuts from the RBA this year in February, May and August, which reduced typical interest rates paid on variable mortgages by a total of 75 basis points.

As a result, buyers taking out a loan to purchase a home now have more money to spend, with lower interest rates improving borrowing capacities.

Those rate cuts have coincided with a change in sentiment in the market, with more buyers now expecting prices to rise higher.

PropTrack senior economist Eleanor Creagh said stronger competition in the housing market had pushed prices to record levels.

“Increased borrowing capacities, lower mortgage rates and improving sentiment are fuelling renewed competition,” she said.

“Market momentum is building amid renewed buyer confidence and improved sentiment, buoyed by earlier rate cuts.”

The recent expansion of the Home Guarantee Scheme, which allows first-home buyers to purchase with a smaller deposit, was expected to further bolster demand, Ms Creagh said.

“The market appears set for further gains through spring and into summer,” she said.

“With stock on market constrained and new supply challenged, conditions remain tilted toward sellers.”

How home prices changed around Australia in October

The data shows that the smaller capitals are still topping the charts for price growth, led by Darwin where the median home value has grown by 12.8% in the past year.

Brisbane (12.6%), Perth (11.8%) and Adelaide (10.3%) weren’t far behind, with Adelaide recording a 1.2% lift in prices in October alone – the fastest monthly growth of all the capitals.

These three cities have been the strongest housing markets in recent years, partly a result of the high interest rate environment and challenged housing affordability pushing more buyers and investors towards cities and regions where properties have historically been cheaper.

Big cities gathering steam

But the situation appears to be changing, with previously-lagging markets now catching up.

“The pattern of growth is shifting,” Ms Creagh said. “Over the past year, Darwin, Hobart, Melbourne and Sydney have seen the fastest acceleration in annual gains, as previously softer markets regain momentum.”

Home prices in Sydney grew by 0.6% in October and 6.4% in the past year – the fastest annual rate of growth recorded in about a year and a half.

Values in the harbour city are sitting at a record high, with a typical house now worth $1.622 million and a unit worth $874,000.

Pockets of Sydney recorded among the fastest quarterly price growth in the nation, with prices growing by about 4% in the eastern suburbs and Parramatta, and 3.5% in the inner south west in the past three months alone.

Meanwhile, Melbourne prices have entered uncharted territory, with the city’s median value eclipsing the previous high reached in early 2022 before rate rises triggered an extended downturn.

Prices are up 4.6% compared to a year ago – an annual rate of growth not seen for more than three years.

Melbourne’s price growth is playing catch up after an extended period falling behind the other capitals, with its median value surpassed by Brisbane, Perth and Adelaide in the past year and a half.

Like Darwin, Melbourne has been targeted this year by interstate investors buying the dip in values that occurred since interest rates were first increased in early 2022.

Prices have risen fastest in the northwest, up 6% in the past year, with the most rapid price rises in suburbs where homes are typically more affordable.

Real estate agent and Barry Plant Glenroy director Roy Khoder said first-home buyers in Melbourne’s northwest were facing competition from investors from NSW targeting more-affordable properties.

“There’s more than couple of interstate investors at the moment.,” he said. “They’re finding good value for money compared to where they’re living.”

He said further strong price growth was expected in the months ahead

“I think we’re in for a good 2026,” he said.

Prices rising in sync

Ms Creagh said lower borrowing costs and increased competition for fewer homes had led to prices rising across the board.

“The current upswing is a synchronised expansion, underpinned by lower rates and constrained supply, with a broad-based lift in prices across the country.”

Although higher-than-expected inflation data last week poured cold water on expectations of a Melbourne Cup rate cut, the housing market still looks set to gallop ahead for the rest of the year.

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