APRA makes it easier to take out mortgages

More good needs for prospective home buyers!

EFFECTIVE IMMEDIATELY, banks no longer need to apply a “stress test” to see whether potential home buyers can afford a 7% interest rate on their residential home loan repayments. That is well over double the current interest rates.

The APRA (Australian Prudential Regulation Authority) has implemented new standards that allow banks the freedom to set their own serviceability buffers. Banks will just have to ensure borrowers can repay their loans if interest rates were 2.5% points higher than they are currently.

The RBA cut the cash rate again this week to a record low 1%- the second rate cut in just two months.


Record low cash rate of 1% coupled with APRA's rule changes will allow people to borrow MORE.

Borrowers will still need to show the same checks on assets and liabilities as normal- proof of income, responsible spending and saving, outstanding personal loans, payment defaults, etc.

So what does that mean to the bottom line?

A Family that earns a combined household income of $109,688, would be able to borrow up to $60,000 MORE when their home loan was assessed at 6.25% serviceability instead of 7.25%.

A single person in the same situation would be able to borrow $50,000 more.

Contact us today to help out with your next steps on securing your future!

6 Easy Steps to Building Your New Home

Often times people think building a new home is out of their reach. Do not despair! Building your first home can be both a scary and exciting process.  Regardless of your situation, building a new home with Ellis Developments means you are working with experienced industry insiders who will make the process easy and seamless.


And then what? After handover, we don't go anywhere. We cover the house for 12 months on an aesthetic/defect warranty and 7 years for anything structural. 

Browse some of our recently completed homes for some inspiration here.

Contact us today to discuss your options.

RBA have cut interest rates to 1.25% what does that mean for you?

You might have heard the buzz about the Reserve Bank cutting interest rates. But what does it all really mean for potential home buyers?

The cash rate was cut by 25 basis points down to 1.25%. It has not been this low since 1990! This means savings in your pocket.

For a typical $400,000 mortgage, it could mean a saving of $60 a month or $720 a year. It’s important to do your homework and shop around for lenders as not all banks have agreed to hand this cut on to their customers.

Are you looking to get into the market? While you will be able to borrow more thanks to lower interest rates, we will likely start to see a price stabilization and potential rise. So it’s important to act quickly while prices are still low around Townsville.

What can $400,000 get you? Check out some of these amazing house and land packages offered by Ellis Developments. Want more options? Reply to this email and we can set up an appointment with one of our New Home Consultants to special tailor a home for you.


The Hybrid 

Stage 3 @ Haven 
$344,500 House & Land w/rebates
3 Bedrooms, 2 Bathrooms, 2 Car Garage
Pay Only $5,000 Deposit with Balance Upon Completion for approved clients!!
The very popular Haven Hybrid design is available again! With the new release of Stage 3, we have limited lots now available to suit the affordable and luxurious Hybrid design.

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The Tivoli Tre

Stage 7 @ The Village 
$342,500 House & Land w/rebates
3 Bedrooms, 2 Bathrooms, 1 Car Garage
"The Tivoli Tre" is a great alternative to inner city living with the advantage of your own stand alone home and NO body corporate to pay! Impressive internal and external raked ceilings over 3m high and a large private outdoor patio to capture the cool easterly breezes offering great views of Castle Hill.
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Lot 43 Maggie - Open Plan Living 1(2).jpg

The Aries - Kitchen01.jpg

The Hawthorn 

Hillside Gardens, Mount Louisa 
$344,500 House & Land w/rebates
3 Bedrooms, 2 Bathrooms, 2 Car Garage
This stunning and spacious family home can be tailored to suit your lifestyle requirements, offering the high levels of design and finish that we pride ourselves on. Great design offering 3 bedrooms with a central kitchen, dining and living areas. Packed with design features including W.l.P, Study, 2 way and Walk-in-Linen.

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The Atlas

Railway Cottages, Railway Estate
$329,000 House & Land w/rebates & grants
3 Bedrooms, 2 Bathrooms, 2 Car Garage
The Atlas' open floor plan flows seamlessly through extra large sliding doors to the outdoor patio. Packed with features including study nook, walk-in-pantry, & large patio.

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Hampton's-style Luxury Home in Belgian Gardens

This bespoke home was designed specifically for the perfectly positioned quiet street in Belgian Gardens. Ellis Developments partnered with Pam Ellis International to create a spacious, luxurious, Hamptons styled family home to make the most of the large backyard and no rear neighbours.

This home has been featured in the Townsville Bulletin and is the first of two lux designs to sit on Parramatta Street. The second design is a large 2 storey home and set to commence construction in June 2019 with a move-in-ready date for the potential buyers before Christmas 2019. Contact Ellis Developments today to review floor plans and design features.

This home is packed with features, including:

  • Spacious entertainer's kitchen with marble feature splash back island bench and walk-in-pantry

  • Kitchen overlooks very spacious open plan living area with stunning high vaulted ceilings and high feature windows letting in plenty of natural light

  • Luxury pendant lights over kitchen island bench and dining table

  • Children’s / guest wing that includes 3 bedrooms & 2 bathrooms and dedicated activities area

  • Master suite with a generous walk-in-robe, en-suite, free standing bath and large feature window seat

  • Huge entertaining deck including kitchen servery windows, BBQ nook, and feature cathedral ceiling

  • Timber floors in bedrooms and luxury carpet in master

  • Dedicated mudroom off garage leading to internal laundry with plenty of storage

  • Very private yard with no rear neighbours and mature trees offering privacy & shade

  • Fully fenced and landscaped with plenty of space for swimming pool, kids cubby etc.

  • Close proximity to The Strand, Castle Hill, and the CBD

Dubbed the Nora Jones house after its previous late property owner, this home was snapped up before it even finished coming out of the ground.

It is now home to the Lenahan family who officially moved in at the beginning of this month, after losing everything in the recent floods.

“For about three years we had been looking to buy in Belgian Gardens, but we couldn’t find anything that was the right fit for our family,” Ms Lenahan said.

“When we came in to have a look at this place, we walked through it, half completed — and it was just perfect.”

Ms Ellis said she felt the Townsville property market was missing something, and was inspired by her experiences abroad.

“I wanted to create something different to what’s generally offered in Townsville,” Ms Ellis said.

“I’ve studied and done developments in places like California, Georgia, and Italy, and I had so much inspiration and had seen so many ideas that just weren’t being brought to the Townsville market.”

Ms Ellis added that her approach to the custom project was different to the usual method of building for an existing client.

“Usually when I do a design job, I start with a client in mind, and with this one I just came up the client in my head — I knew it would be a family, with young children who needed two separate living spaces.

“That’s where I came up with the idea of doing a kids’ wing, and then I added designer features like vertical slats, textures on the wall, high ceilings, a pendant light, and just doing different things so the finish would be really special.”

Children’s rumpus room located in separate wing surrounded by 4 additional bedrooms and 2 bathrooms.

Children’s rumpus room located in separate wing surrounded by 4 additional bedrooms and 2 bathrooms.

The Hamptons-style design won over the family with its unique features, and Ms Ellis’s personal touches made the house feel like home.

“We loved the high ceilings, and now that it’s complete the kitchen is just perfect — the marble splashback is incredible,” Ms Lenahan said.

“Our daughters are six, four and one in age, and after Pam met them, she put little teddy bears on the draw handles in their bathroom.”


“I wish I’d known about Ellis Developments two years ago because we probably would have designed a home with Pam back then.”

Offering the highest level of standard inclusions in the local market, Ellis Developments prides itself on an unwavering commitment to customer service while also delivering the most up-to-date finishes on a truly masterful design. Contact us today if you would like to build a beautiful, custom dream home.

First Home Loan Deposit Scheme: What you need to know


Our ears perked up when Prime Minister, Scott Morrison promised first home buyers would only need a 5 per cent deposit — instead of the usual standard of around 20 per cent — if his government was re-elected.

Usually the biggest hurdle for First Time Buyers is saving the large deposit necessary to buying when also paying rent.

The Coalition has promised to help 10,000 first homebuyers into the market by topping up their 5% deposits with a government guarantee for 15% of the loan starting 1 January 2020. This scheme speeds up first time buyers’ saving time and eliminates the need to pay lenders mortgage insurance, which protects banks from defaults and often costs borrowers about $10,000

The program would be available to first home buyers with an income of up to $125,000 or couples with a joint income of up to $200,000.

All of the normal credit checks on the borrowers will still take place to ensure serviceability of the loan amount. However, reaching a goal of 5% of a house and land price is much more attainable. Particularly for low- and middle-income earners, this will be a great assistance. It is not free money. It is just making entry into the market a little easier- and then you off as a homeowner paying your own mortgage instead of your landlord’s.

Many people can easily afford a the weekly repayments of a mortgage but have struggled to save enough for a deposit while also paying rent.

This is a fantastic opportunity for First Time Buyers to get into the market and buy their first home.

Are you eligible? The full details of the scheme have yet to be released. Here is what we know so far:

  • Single people earning up to $125,000 OR couples earning up to $200,000 will be eligible

  • Saved 5% of the value of the home

  • There will likely be regional caps on the value of homes for which it will guarantee a deposit

  • The scheme availability is limited to 10,000 homebuyers

Stay tuned for more information as it is released to the public.

Do you have home ownership in your scopes? Contact the team at Ellis Developments to learn more about options, process, and availability. Owning your own home is closer than you think. We are here to help.

First of its kind- Railway Cottages unveils the first on the block

Railway Cottages is the newest boutique estate from award-winning Ellis Developments QLD. Offering a variety of high-set, Modern Queenslanders fusing the charm of the Railway Estates neighbourhood with the elegance of modern design. Nestled conveniently within 2km to Townsville CBD & New Stadium, schools, boat ramp, restaurants, and shops. Only 8 lots available with 5 already sold!

All homes at Railway Cottages are elevated off ground. The two homes that were already built during the 2019 floods were well above the flood waters. Owners had power the whole time and had no damage to their homes or garages.

Packed with features including open floor plan, vaulted ceilings, study nook, walk-in pantry and large rear deck for entertaining.

• No Body Corp to pay!

• Vaulted Ceilings & 3-Step cornice in living areas.

• Bamboo flooring to kitchen, living, dining, and patio.

• Full split air-con and fans in every room.

• Luxury designer kitchens- soft close custom cabinetry with Quartzstone 40mm edged island bench and 20mm edge to remainder of kitchen.

• Designer grade tapware throughout.

• LED down-lights to living, dining, & bedrooms.

• Diamond security screens to all windows and doors.

• Modern take on Classic Queenslander façade using innovative

materials for maximum street appeal and sustainability.

• Treated LOSP timber for termite prevention.

• Full Turnkey – landscaping, fencing, irrigation, clothesline, letterbox, fencing, etc.

• Lot size 402sqm

* FREE Solar System included in price

View more floor plans at www.railwaycottages.com.au

First Time Buyers- Where do you start?


Often times people think buying a home is out of their reach. Buying your first home can be both a scary and exciting process. Contrary to popular belief, getting into the housing market is now easier than ever- interest rates are at an all-time low, the First Time Home Owners’ Grant of $15,000, and the market is seeing prices bottoming out. Regardless of your situation, building a new, first home with Ellis Developments means you are working with experienced industry insiders who will make the process easy and seamless.

So where do you start?

See if you qualify for the $15,000 FTB Grant:

The Queensland First Home Owners’ Grant is a state government initiative to help first home owners like you to get into their new first home sooner.  You will get $15,000 towards buying or building your newly-constructed house valued less than $750,000. This $15,000 can be enough to cover your deposit to the bank along with fees! Or you could use it towards choosing a bigger home or get you the kitchen you have always dreamed of. At Ellis Developments, we have a multitude of floor plans and facades to choose from or to be inspired by.

If you have a custom plan in mind, you can work with our in-house design and architectural teams to build your dream home from scratch.

To be eligible:

  • You must be at least 18-years-old.

  • You must be an Australian citizen or permanent resident (or applying with someone who is).

  • You or your spouse must not have previously owned property in Australia.

  • You must be buying or building a newly-constructed home, valued under $750,000.

See if you are eligible:


Talk to a bank or financial institution:

Before you start looking at land and houses, you should know how much you can afford to buy. When meeting with a mortgage broker, they will ask you a number of simple questions to assess your situation. Did you know a history of paying rent can often be enough to show financial strength for home loans? After your meeting, they will be able to give you an understanding of how much you can comfortably borrow and what your monthly repayments will likely be.

Once you have that squared away, the team at Ellis Developments can help you work within any budget- large or small. If you are not sure who to talk to about financing, we have several reputable contacts we can provide you with.

Picking your neighbourhood:

Location, Location, Location! Consider your lifestyle. Are you often found out and about around town from Domain to City Lane to The Strand? Do you need to be close to day care, primary, or secondary schools? Do you enjoy the city life in town on the weekends catching up with friends or do you prefer a BBQ on the back deck with a coldie in hand? Do you have a budget for taxi’s home on Saturday night? These questions will guide you to how close to town you want to be. Needless to say, land closer to town will be smaller and more expensive to buy, but the houses will generally be similar in price.

Determining a lot size: Do you want a low maintenance courtyard for entertaining or do you want a ride on mower this Christmas for that ¼ acre yard you will be cutting every weekend? No matter which area you choose to live in, The New Home Specialists at Ellis Developments can guide you through land purchasing and finding what is going to suit you best.

Picking your floorplan:

So now that you know the size of your lot and your neighbourhood, it’s time to pick your home. A great place to start is to walk through the Ellis Developments display homes for inspiration. Some people prefer to pick an established floor plan and make a few small changes while others prefer to create their dream home. It’s time to get your wish list ready. Our New Home Sales Consultants specialize in determining your needs and translating that into a floor plan you want. The added benefit of having an in-house design and architectural team working throughout the design phase is at no extra cost to you.

With years of experience, we have thought of everything. That means no hidden extras, no hidden costs, and no extra headaches.

Are you ready to make the first step?

Contact us today to explore your options or to ask any questions. Fitting people with the house and land packages that are right for them is our passion, and one we do well.