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After a year of keeping interest rates on hold, the Reserve Bank’s decision to cut the official cash rate not once, but twice at its final two meetings for 2011 is certainly a nice Christmas present for many property investors and home owners with a mortgage.  But a question that I seem to often get asked, as do many brokers in the Century 21 Home Loans network, surrounds how borrowers and potential buyers can ensure they are able to maximise the rate cut, beyond simply the immediate reduction passed on by their lender. 
In addressing this concern I would say that the relationship you have with your mortgage broker is probably more important than ever before, and now may present a good time to sit down with a professional to revisit your options.  A proficient mortgage professional will have a thorough understanding of a wide range of products currently available and should be able to advise you on the best course of action for your specific situation. 
Rate cuts – has your lender passed them on? 
With the recent spate of rate cuts and potentially more in the pipeline, first and foremost, it’s worth checking to ensure your lender is passing on the cuts or at to what extent.  Don’t be the borrower who is missing out on cuts. 
Reassess your mortgage 
With constantly varying lending criteria, fees and the like, mortgage holders may find that a combination of lowered interest rates and changing conditions have made alternative products more appropriate for their circumstances.  Your mortgage broker should be able to take you through a wide range of product options and clearly explain how the refinancing process works – ensuring you have the right information to make an informed mortgage decision. 
Increase the frequency of repayments
It is certainly tempting to capture monetary savings immediately by reducing your monthly repayments in line with the rate cuts, and for many people struggling with affordability concerns, this will be a necessity.  However, if possible, I would advise people to consider the option of maintaining current repayment levels and potentially even increasing the frequency of repayments (e.g. fortnightly rather than monthly).  This will most probably allow you to get your mortgage principal paid off more quickly, which will also likely reduce the interest you must pay over the long term. 
For many borrowers, alongside the prospect of making immediate savings, rate cuts can present an ideal opportunity to reassess your mortgage situation and identify how further savings can be made in the future.  Working with a professional mortgage broker who has a thorough understanding of your personal situation should position you to be able to make an informed decision and take full advantage of recent (and future potential) rate reductions.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a>
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Rate cuts an opportunity to reassess your mortgage

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For many Australians, the joy of Christmas time is generally accompanied by increased expenditure as people spend big on presents, socialising, travel and the like.  And for those borrowers already having difficulty meeting mortgage repayments, unfortunately Christmas brings little relief – instead it can be a time of increased financial hardship and stress. 
There are a number of ways that borrowers can look to avoid experiencing mortgage stress over the Christmas period, or at the very least, reduce it.  In my experience, planning ahead is key – the more you can anticipate costs in advance and allocate funds where necessary, the better positioned you will be to maintain your regular mortgage repayments. 
Carefully budget
It sounds obvious, but surprisingly many people do not stick to a budget at Christmas and get swept away with the various novelty items that can be purchased.  However when you overspend on unnecessary items it can be tempting to make up the shortfall by skipping an often sizeable mortgage repayment which can be expensive – both in terms of the fees incurred as well as the extra accrued interest that gets added to your overall amount owing. 
Budgeting doesn’t mean you have to be a scrooge, rather it involves considering everything that you will need to purchase over the season, including presents, food stuffs and beverages, decorations, cards and postage costs etc.  With all of your expenses laid out, it is easier to realistically see what you can afford and how your available capital can be best allocated.  This knowledge should put you in a better position to avoid skipping a mortgage repayment and can also help to reduce levels of anxiety.
 
Assess your mortgage options
While every mortgage package is different and each lender has varying conditions, there may be certain steps you can take to manage your mortgage at Christmas time. 
If you have been consistently paying an amount above the minimum repayment due then you could have a buffer that may allow you to reduce your repayments to the minimum level due over Christmas time, giving you somewhat of a reprieve over the costly period.  If you are not in such a position this year, it is certainly worth considering paying above the minimum amount over the course of next year, particularly as interest rates may move downwards, which should better prepare you to cope financially next Christmas. 
For those borrowers who will struggle to make the minimum repayment required due to increased Christmas expenses, various lenders may offer suitable options such as repayment holidays, which could see you able to put your repayments on hold for a specified period.  While convenient at the time, these options should be approached with care, as they will almost always incur a fee and interest will continue to accrue. 
Mortgage management over the expensive Christmas season is certainly possible but takes planning and careful budgeting.  For those people in serious mortgage stress, I would highly recommend sitting down with your lender to discuss your situation and to see the types of remedies that can be offered.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a> 
 
 
 
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Avoid mortgage stress over Christmas

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I think it is safe to say that the concept of seasonal activity has been nonexistent in real estate this year – any expectations we held based on historical trends have essentially been thrown out the window.  Thanks in large part to continued interest rate uncertainty and in more recent months heightened concerns for global financial markets, the residential property market has certainly experienced a slowdown over 2011 and based on the sales activity that took place over September, the well-known “spring selling season” doesn’t look to be any different. 
Around the country we are seeing that in general, properties are certainly on the market and although buyers are still out there looking, many continue to show reluctance to make a purchase.  According to internal Century 21 data collated from our offices around Australia, there were almost 60% more properties listed in September 2011 than in September 2010, however the number of properties sold was down by just over 20%.  Nationwide, our offices recorded a conversion ratio of approximately 58% for the month, as opposed to a ratio of around 85% seen in September last year. 
Despite the reduced buyer activity there continue to be areas where properties are selling successfully.  Not surprisingly, these include locations where there is little property available and no future land releases or subdivisions planned.  Homes within the $400,000 to $800,000 price range also continue to be in demand, particularly for first- and second-home buyers. 
In terms of the sales prices being achieved, values in the mainstream market seem to have settled, as this is where much of the buyer interest continues to be.  Having said this, the market still looks to be lacking the rush of buyers that we have seen in the past.  Vendor discounting continues for many properties at the top end of the market and in coastal regions, and in most cases is taking place when sellers are concerned about a lack of interested buyers.  Many of those are not selling out of necessity look to be pulling their properties from the market if the desired sales price is not achieved. 
The heavy discounting seen at the top end of the market may actually see properties in this range come back strongly – buyers can see the price reductions that have occurred and understand that if they wish to make a purchase now may be an ideal time to do it. 
Market activity over the one and a half remaining months of spring will depend largely on levels of consumer confidence and certainty surrounding interest rates.  With predictions that the Reserve Bank may move to cut the official cash rate at its November meeting, I’m sure that real estate agents and vendors across the country are hopeful that this news could be the push buyers need to make purchase decisions, with such movement potentially resulting in a pre-Christmas gain in momentum.
Charles Tarbey is chairman and owner of <a target="_blank" href="https://www.century21.com.au/">Century 21.</a>
 
 
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Spring selling season not what it used to be

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Spring is traditionally a busy season for real estate, with the warmer weather often seeing renewed vigour from prospective property buyers who held off from purchasing during the colder months, and vendors aiming to sell and relocate in time for Christmas. 
Given that rents are rising and vacancies are low, Century21 expects that much of the market activity this spring will be from first-home buyers looking to enter the property market. 
There will likely be a flurry of activity in New South Wales in particular, with first-time buyers moving to act before the removal of stamp duty exemptions (except on new properties) as of January 1, 2012.  
One of the best steps that these prospective buyers can take to prepare for a purchase will be to obtain mortgage pre-approval well in advance so that good opportunities can be acted upon swiftly. 
For sellers, it’s all about presentation. With spring typically seeing numerous properties listed, you want yours to stand out, giving it the best possible chance to sell for a good price. 
There are numerous, cost-effective ways to revitalise your property – a fresh coat of paint, updating your outside areas with some colourful plants and a thorough clean-up will do wonders to improve its appeal for buyers.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a>
 
 
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How to prepare to sell a house in spring

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada Australia doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Charles Tarbey

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