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Following the May RBA rate cut , lenders continue to cut their fixed-rate home loan offerings with Citibank the latest to do so.
The bank has cut its Citibank Mortgage Plus five-year fixed home loan rate to 5.35% per annum, which it claims is the lowest five-year fixed-rate offering in the Australian market.
UBank currently offers a five-year refinancing-only fixed-rate home loan at 5.41%, the next cheapest five-year fixed-rate offering, according to RateCity.com.au.
Five-year fixed-rate home loans are the second most popular fixed-rate term, <a href="https://www.propertyobserver.com.au/news/monday-feb-25-feature-the-fix-is-on-for-bank-mortgage-rates-should-you-take-the-deal/2013022159504" target="_blank">according to research by homeloanfinder.com.au</a>, accounting for around 20% off all fixed-rate home loans.
Three-year fixed-rate home loans make up two-thirds of fixed-rate home loan applications in Australia.
Citibank previously cut its two-year fixed home loan rate to <a href="/news">4.89% at the end of April.</a>
“Fixed rates continue to be in high demand by consumers; with over 50%  of our new applications having a fixed rate component," says Vibha Coburn, head of mortgages at Citibank in Australia.
“Since September 2012, Citibank has reduced its five-year fixed rates by 34 basis points, while our two-year fixed rates have dropped 86 basis points.
"We look to provide competitive alternatives for those customers who look for stability in their mortgage repayments," she says.
Citibank is also offering a free 60-day rate lock which allows customers a guaranteed low fixed rate for 60 days after their application has been submitted.
Citibank offers borrowers who wish to take advantage of the new rate conditional approval in under 24 hours if all relevant information is supplied.
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lschlesinger-FZcF9M3vE6

Citibank cuts five-year fixed-rate home loan to 5.35% 

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US private equity giant Blackstone has reportedly pulled out of its takeover bid for listed property trust Australand following GPT Group’s formal withdrawal yesterday.
Blackstone had put in a bid for the entire Australand business at around a 10% discount to the trust’s $3.46 a security net asset backing, The Australian Financial Review’s StreetTalk gossip column reported.
However, it withdrew its bid via email a few hours after the GPT statement was issued yesterday.
<a target="_blank" href="/news">GPT’s $2.8 billion December offer</a> (StreetTalk quotes a $2.95 billion offer) was for only the non-residential businesses of Australand.
Analysts John Kim from CLSA and Jason Weate from Deutsche Bank continue to back Australand despite the withdrawal of GPT and Blackstone after its share price fell 18 cents to $3.35 (a 5.3% fall) in morning trading today.
The option still remains for a block trade of Singapore-based majority shareholder CapitaLand’s $1.2 billion stake, but according to StreetTalk, this would represent a worse outcome for shareholders than the Blackstone offer and would be difficult to accomplish.
In a statement released yesterday, Australand confirmed that it had been unable to reach agreement with GPT on the sale of its investment portfolio and commercial and industrial businesses that would be a “superior outcome than business as usual”.
It also said it was not in receipt of any formal proposals, but that process had not yet concluded.
Clearly Australand was eager to sell to GPT, but the two parties could not agree on a fair price.
StreetTalk reported that a high-ranking CapitaLand executive flew into Sydney on Monday to try and help thrash out a deal with GPT, but could not get the property group to budge on its offer.
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Australand running out of options as Blackstone joins GPT at the exit gates

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Federal Treasurer Wayne Swan has claimed the Coalition’s paid parental leave scheme would cause variable mortgage rates to rise.
Swan quotes new Treasury analysis showing the cost of the 1.5% company tax hike on banks and other mortgage lenders is nearly $4 billion over four years – reaching $1.1 billion in 2016-17.
“Mr Abbott's new tax will send standard variable mortgage rates up by 10 basis points, while business rates could rise by as much as 25 basis points,” says Swan.
“The big banks have put Mr Abbott on notice that they will pass on every dollar of his company tax hike by jacking up interest rates on mortgages and small business loans - everyone with a home loan or business loan will pay for Mr Abbott's PPL scheme.”
Swan labelled the tax “unfair and unaffordable” and said it would be “paid for out of the pockets of hard-working families and small businesses across Australia”.
“It's downright unfair to rip away $2,000 from new families on modest incomes and jack up their mortgage repayments just to put $75,000 straight into the bank accounts of millionaires.
“Under Labor, a family on a $300,000 mortgage is saving around $5,500 a year in repayments compared to the high interest rates the Liberals saddled them with when they left office,” he said.
The paid parental leave scheme is one of the key policies of the Coalition’s election manifesto.
It will pay mothers six months of their normal salary up to $75,000. 
Treasury estimates of cost of 1.5% company tax hike on entities involved in general lending and deposit taking
<table border="1" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td valign="top">
2013-14
</td>
<td valign="top">
2014-15
</td>
<td valign="top">
2015-16
</td>
<td valign="top">
2016-17
</td>
<td valign="top">
Total
</td>
</tr>
<tr>
<td valign="top">
$850m
</td>
<td valign="top">
$970m
</td>
<td valign="top">
$1030m
</td>
<td valign="top">
$1110m
</td>
<td valign="top">
3960
</td>
</tr>
</tbody></table>
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Coalition’s paid parental leave tax to push up mortgage rates: Wayne Swan

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The percentage of home owners a month or more behind on mortgage repayments lifted from 1.44% in December to 1.66% at the end of March, according to Moody’s Investors Services.
This was marginally above the 1.59% of borrowers 30 days or more behind in mortgage repayments in March 2012.
The increase was consistent across all mortgage providers, says Moody's.
The arrears rate for the major banks rose to 1.39% in March from 1.16% in December, while for the regional banks, it rose to 1.87% from 1.65%, and for non-authorized deposit-taking institutions (ADIs), it rose to 3.46% from 3.24%.
Despite the increase, Australian mortgage arrears rates are very low by international standards.
The US 30-plus days mortgage arrears rate was 6.21% in April, according to the First Look report prepared by Lender Processing Services.
The UK arrears rate was 2.5% in April, according to the Council of Mortgage Lenders.
Moody's  attributed the rise in the Australian mortgage arrears rate to seasonal factors, that is the fallout from higher discretional spending over the Christmas and New Year holiday period.
However, the increase in the arrears rate also lifted despite a cut in interest rates.
In December the RBA cut the cash rate by 25 basis points to 3% with most of this passed on to borrowers.
Moody’s expect the arrears rate to decrease in the second half of the year.
Borrowers will also be assisted by the May 25 basis point rate cut with most lenders passing this on in full.
Arrears rates improved among borrowers with lower credit ratings.
The low-doc arrears rate fell from a record high of 6.24% in January to 5.83% in March.
"Borrowers in low-doc deals provide little or, in the case of no-doc loans, no proof of income. Moody's considers that the higher delinquency rate of these loans can be explained by the cash flow volatility of the borrowers, who are typically self-employed," says Moody's.
"After excluding 100% low-doc deals, the prime 30-days plus arrears rate would have been much lower at 1.60% in March."
The non-conforming 30-days plus arrears rate rose to 7.85% in March from 7.39% in December, and was 85 basis points lower than March 2012 when it was 8.70%.
Moody’s figures are compiled based on the performance of securitised loans, that is loans packaged into residential mortgage-backed securities (RMBS) and sold to investors.
The worst performing 2004 vintage incurring 36 basis points of losses to date.
"To date, lenders mortgage insurance has covered the majority of these losses, with any residual covered by excess spread or by the lender," says Moody's.
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Small rise in home mortgage arrears rate in March blamed on Christmas holiday spending

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Tasmania has joined NSW, Queensland and South Australia by announcing plans to axe the $7,000 first-home owner grant (FHOG) for established homes on June 30, 2014.
It will coincide with the end of Tasmania's First Home Builder Boost (FHBB) - a payment of $8,000 - on June 30.
From July 1, Tasmanian first-home buyers who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG. Those buying an existing home will receive no grant.
The withdrawal of the FHOG for existing homes was announced by Tasmanian premier Lara Giddins as part of her recent 2013-14 state budget announcement.
Giddins said the $7,000 grant for new homes only would provide "an ongoing stimulus to the building industry and creating jobs in the process".
"This change will bring Tasmania into line with other States such as Victoria, NSW and South Australia while saving an estimated $11 million per annum, which will be used to fund job-creating changes to the payroll tax," Giddins said.
South Australian Premier Jay Weatherill will deliver his state budget on June 6, but the state's revenue office website reveals that the already reduced $5,000 FHOG will end on June 30. The state's $15,000 FHOG for new homes is ongoing.
These are the key dates first-home buyers need to diarise:
All dates correct as of May 27 2013.
June 30, 2013 - Victoria
The date the Victorian government ends its $7,000 first-home owner grant. The grant is available if the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
June 30 2013 - South Australia
The $8,000 Housing Construction Grant (HCG) will expire on June 30. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
June 30 2013 - ACT
The Home Buyer Concession Scheme (HBCS), offering stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds (<a href="https://www.revenue.act.gov.au/home_buyer_assistance" target="_blank" rel="nofollow">details on the ACT government website</a>), is due to expire on June 30.
July 1, 2013 – Victoria
The start of the $10,000 grant in Victoria for newly constructed homes. In addition, the state government will also increase stamp duty cuts of 40% for all first home owners (including those buying existing homes) for homes valued up to $600,000. The combination of a $10,000 first-home owner grant and 40% stamp duty cut means that Victorians buying a newly constructed first home for $400,000 will save over $16,500.
January 1, 2014 - NSW
The $15,000 grant for first-home owners who purchase or build a new home in NSW valued at up to $650,000 will reduce to $10,000 from this date.
June 30, 2014 – Tasmania
Up until this date, Tasmanian first-home buyers of established homes are entitled to a $7,000 grant. From July 1, 2014, the grant is only available to those who buy or building a new home, including off the plan and house and land packages.
June 30, 2014 – South Australia
Up until this date, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
June 30, 2014 – South Australia
Stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date. The scheme is available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330. 
June 30, 2014 – Tasmania
The $8,000 First Home Builder Boost Scheme grant available to Tasmanians building a new home (including off-the-plan) if the qualify for the first-home owner grant will end on this date.
September 1, 2014 - Victoria
All first home buyers (whether purchasing newly constructed or established homes) will benefit from a 50% stamp duty concession for homes valued up to $600,000.
June 30, 2016 - South Australia
Partial stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date.
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Tasmania and South Australia to axe first-home owner grants from June 30 2014: key dates to diarise

Talk of the mining boom effect petering out in perennial property hotspot favourites Gladstone and Moranbah in northern Queensland appears premature with both bucking the trend of property markets that soar one year only to fizz out the next.

Property Observer analysis of the 15 best performing detaching housing markets across five house price brackets published last May&nbsp;by Smart Property Investment magazine now one year on, shows that nine markets went from boom to bust in the space of a year, two tread water and three grew strongly, albeit at slower rates in the prior year.

The biggest boom to bust occurred in Quindalup, a small town in the South West region of Western Australia in the shire Busselton and about 250 kilometres west of Perth, most famous as the hub of a thriving timber industry from the mid to late 1800s.

Just a few original buildings remain, including Harwoods Cottage, now a local tourist attraction.

Based on annual sales data, RP Data figures show that Quindalup median house prices rose 47% to Feb 2012 but then fell 38% in the twelve months to February 2013.

Double-digit corrections also occurred in Netherby, a suburb of Adelaide, Sydney&rsquo;s prestige McMahons Point on the lower north shore (though from a small number of prestige sales), Dicky Beach, a suburb on the Sunshine Coast, East Launceston in Tasmania, Alton Downs near Rockhampton and Shorewell Park on the north coast of Tasmania near Burnie.

However, Gladstone City median house prices (the greater Gladstone area) have risen 24% over the 12 months to February 2013 following a rise of 32% in the previous months to a median of $600,000, albeit off just 17 recorded sales, according to RP Data.

And in Moranbah, house prices rose 17% over the 12 months to February 2013 following a 33% in the previous 12 months to rise to $740,000 from 159 sales.

The third location to register two consecutive years of strong price growth was Millthorpe in NSW, a tiny hamlet between Orange and Blayney with 1,100 people, with price gains of 31% in 2012 and 13%.

While listed as the top performers, the locations below were not necessarily recommended by RP Data or SPI Magazine as property investment hotspots for 2013.

<table border="1" cellpadding="0" cellspacing="0" style="width: 470px;">
	<tbody>
		<tr>
			<td valign="top" width="82">
			State
			</td>
			<td valign="top" width="114">
			Suburb
			</td>
			<td valign="top" width="66">
			Annual sales to Feb 13
			</td>
			<td valign="top" width="78">
			Median price Feb 2012
			</td>
			<td valign="top" width="95">
			Median price Feb 2013
			</td>
			<td valign="top" width="90">
			Median 12mth growth to Feb 2012
			</td>
			<td valign="top" width="90">
			Median 12mth growth to Feb 2013
			</td>
		</tr>
		<tr>
			<td colspan="7" valign="top" width="616">
			BEST PERFORMING SUBURBS $700,001 plus
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			WA
			</td>
			<td valign="top" width="114">
			Quindalup
			</td>
			<td valign="top" width="66">
			12
			</td>
			<td valign="top" width="78">
			$970,000
			</td>
			<td valign="top" width="95">
			$565,000
			</td>
			<td valign="top" width="90">
			47%
			</td>
			<td valign="top" width="90">
			-38%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			SA
			</td>
			<td valign="top" width="114">
			Netherby
			</td>
			<td valign="top" width="66">
			19
			</td>
			<td valign="top" width="78">
			$970,000
			</td>
			<td valign="top" width="95">
			$800,000
			</td>
			<td valign="top" width="90">
			39%
			</td>
			<td valign="top" width="90">
			-18%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			NSW
			</td>
			<td valign="top" width="114">
			McMahons Point
			</td>
			<td valign="top" width="66">
			16
			</td>
			<td valign="top" width="78">
			$1.92m
			</td>
			<td valign="top" width="95">
			$1.6m
			</td>
			<td valign="top" width="90">
			33%
			</td>
			<td valign="top" width="90">
			-17%
			</td>
		</tr>
		<tr>
			<td colspan="7" valign="top" width="616">
			BEST PERFORMING SUBURBS $500,001 - $700,000
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			WA
			</td>
			<td valign="top" width="114">
			Derby
			</td>
			<td valign="top" width="66">
			42
			</td>
			<td valign="top" width="78">
			$555,000
			</td>
			<td valign="top" width="95">
			$542,500
			</td>
			<td valign="top" width="90">
			40%
			</td>
			<td valign="top" width="90">
			0%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			QLD
			</td>
			<td valign="top" width="114">
			Moranbah
			</td>
			<td valign="top" width="66">
			159
			</td>
			<td valign="top" width="78">
			$610,000
			</td>
			<td valign="top" width="95">
			$740,000
			</td>
			<td valign="top" width="90">
			33%
			</td>
			<td valign="top" width="90">
			+17%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			QLD
			</td>
			<td valign="top" width="114">
			Dicky Beach
			</td>
			<td valign="top" width="66">
			20
			</td>
			<td valign="top" width="78">
			$660,000
			</td>
			<td valign="top" width="95">
			$562,500
			</td>
			<td valign="top" width="90">
			28%
			</td>
			<td valign="top" width="90">
			-15%
			</td>
		</tr>
		<tr>
			<td colspan="7" valign="top" width="616">
			BEST PERFORMING SUBURBS $400,001 - $500,000
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			QLD
			</td>
			<td valign="top" width="114">
			Alton Downs
			</td>
			<td valign="top" width="66">
			13
			</td>
			<td valign="top" width="78">
			$480,000
			</td>
			<td valign="top" width="95">
			$430,000
			</td>
			<td valign="top" width="90">
			38%
			</td>
			<td valign="top" width="90">
			-10%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			TAS
			</td>
			<td valign="top" width="114">
			East Launceston
			</td>
			<td valign="top" width="66">
			44
			</td>
			<td valign="top" width="78">
			$478,000
			</td>
			<td valign="top" width="95">
			$385,000
			</td>
			<td valign="top" width="90">
			33%
			</td>
			<td valign="top" width="90">
			-19%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			QLD
			</td>
			<td valign="top" width="114">
			Gladstone City
			</td>
			<td valign="top" width="66">
			17
			</td>
			<td valign="top" width="78">
			$482,500
			</td>
			<td valign="top" width="95">
			$600,000
			</td>
			<td valign="top" width="90">
			32%
			</td>
			<td valign="top" width="90">
			+24%
			</td>
		</tr>
		<tr>
			<td colspan="7" valign="top" width="616">
			BEST PERFORMING SUBURBS $300,001 - $400,000
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			SA
			</td>
			<td valign="top" width="114">
			Munno Para
			</td>
			<td valign="top" width="66">
			92
			</td>
			<td valign="top" width="78">
			$322,827
			</td>
			<td valign="top" width="95">
			$307,500
			</td>
			<td valign="top" width="90">
			42%
			</td>
			<td valign="top" width="90">
			+1%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			NSW
			</td>
			<td valign="top" width="114">
			Millthorpe
			</td>
			<td valign="top" width="66">
			12
			</td>
			<td valign="top" width="78">
			$330,000
			</td>
			<td valign="top" width="95">
			$372,500
			</td>
			<td valign="top" width="90">
			31%
			</td>
			<td valign="top" width="90">
			+13%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			NSW
			</td>
			<td valign="top" width="114">
			Wyee Point
			</td>
			<td valign="top" width="66">
			17
			</td>
			<td valign="top" width="78">
			$380,000
			</td>
			<td valign="top" width="95">
			$377,500
			</td>
			<td valign="top" width="90">
			31%
			</td>
			<td valign="top" width="90">
			-1%
			</td>
		</tr>
		<tr>
			<td colspan="7" valign="top" width="616">
			BEST PERFORMING SUBURBS UNDER $300,000
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			TAS
			</td>
			<td valign="top" width="114">
			Shorewell Park
			</td>
			<td valign="top" width="66">
			18
			</td>
			<td valign="top" width="78">
			$246,000
			</td>
			<td valign="top" width="95">
			$207,500
			</td>
			<td valign="top" width="90">
			47%
			</td>
			<td valign="top" width="90">
			-21%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			NSW
			</td>
			<td valign="top" width="114">
			Boggabri
			</td>
			<td valign="top" width="66">
			21
			</td>
			<td valign="top" width="78">
			$157,500
			</td>
			<td valign="top" width="95">
			$153,000
			</td>
			<td valign="top" width="90">
			45
			</td>
			<td valign="top" width="90">
			-6%
			</td>
		</tr>
		<tr>
			<td valign="top" width="82">
			TAS
			</td>
			<td valign="top" width="114">
			Trevallyn
			</td>
			<td valign="top" width="66">
			98
			</td>
			<td valign="top" width="78">
			$290,000
			</td>
			<td valign="top" width="95">
			$279,500
			</td>
			<td valign="top" width="90">
			26%
			</td>
			<td valign="top" width="90">
			-7%
			</td>
		</tr>
	</tbody>
</table>

Source: RP Data/Smart Property Investment magazine&nbsp;

Gladstone defies doomsayers with 24% gain in annual median house prices with Moranbah also strong

<html><body>
Two out of every five (40%) home loan enquiries to mortgage brokers Loan Market are now for a fixed-rate home loan product.
This follows the RBA cutting the cash rate to 2.75% on May 7 and lenders responding with fixed-rate cuts to interest rates below 5% including <a target="_blank" href="/news">Aussie Home Loans</a>, <a target="_blank" href="/news">RAMS</a>, <a target="_blank" href="/news">Westpac, St.George, Bank of Melbourne and BankSA</a>.
Loan Market spokesperson Paul Smith says that since the RBA rate cut, 40% of home owners have been looking into fixing their interest rate, which is the highest proportion since the start of 2013.

“There’s been a roller coaster of speculation when we’ll hit the bottom of the interest rate cycle and the latest RBA rate cut has caused lenders to drop their fixed rates even further as they expect the cash rate to drop again,” says Smith.

Smith says one of the interesting areas of movement in the past two weeks has been lenders moving the pricing of their three-year fixed rates more than their two-year rates.
Three-year fixed rate terms are the most popular followed by five-year fixed rate terms, according to mortgage comparison website, <a target="_blank" href="https://www.propertyobserver.com.au/news/monday-feb-25-feature-the-fix-is-on-for-bank-mortgage-rates-should-you-take-the-deal/2013022159504">Homeloanfinder.com.au</a>
“As lenders speculate where variable rates will bottom out, they’re going to find ways to attract and retain customers – fixed rate products are so competitive right now for this reason,” says Smith.

He says it is important for a borrower to consider the longer term implications of signing up for a fixed or variable rate and not to make a decision based on the interest rate alone.

“Fixed rates continue to be priced below variable rates and have been so for nearly 12 months now. It’s a trend that’s against the historical comparison of fixed and variable rates, which further adds to the unique situation interest rates are presently in.”
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites<a target="_blank" rel="nofollow" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" rel="nofollow" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" rel="nofollow" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a rel="nofollow" href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of March 4:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="127" valign="top">
Provider
</td>
<td width="129" valign="top">
Loan name
</td>
<td width="98" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="127" valign="top">
State Custodians
</td>
<td width="129" valign="top">
State Custodians Peak Performance Offset Home Loan
</td>
<td width="98" valign="top">
4.74%
</td>
<td width="116" valign="top">
5.11%
</td>
</tr>
<tr>
<td width="127" valign="top">
Loans.com.au
</td>
<td width="129" valign="top">
Blackboard special – purchases only
</td>
<td width="98" valign="top">
4.75%
</td>
<td width="116" valign="top">
4.77%
</td>
</tr>
<tr>
<td width="127" valign="top">
UBank
</td>
<td width="129" valign="top">
UHomeloan – refinance only
</td>
<td width="98" valign="top">
4.87%
</td>
<td width="116" valign="top">
4.87%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
Greater Building Society
</td>
<td width="123" valign="top">
Ultimate Home Loan Package
</td>
<td width="95" valign="top">
4.74%
</td>
<td width="114" valign="top">
5.51%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHomeloan – refinance only
</td>
<td width="95" valign="top">
4.83%
</td>
<td width="114" valign="top">
5.12%
</td>
</tr>
<tr>
<td width="137" valign="top">
iMortgage.com.au
</td>
<td width="123" valign="top">
iMortgage Fusion 75
 
</td>
<td width="95" valign="top">
4.84%
</td>
<td width="114" valign="top">
5.08%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
iMortgage.com.au
</td>
<td width="133" valign="top">
iMortgage Fusion 75
 
</td>
<td width="97" valign="top">
4.94%
</td>
<td width="108" valign="top">
5.16%
</td>
</tr>
<tr>
<td width="133" valign="top">
Loans.com.au
</td>
<td width="133" valign="top">
Dream Loan Express Fixed
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
4.93%
</td>
</tr>
<tr>
<td width="133" valign="top">
Aussie
</td>
<td width="133" valign="top">
Aussie Select Basic Fixed Rate
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
5.22%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
</body></html>

Cheapest fixed and variable offerings: mortgage brokers record spike in fixed-rate home loan enquiries

<html><body>
GPT Group has formally withdrawn its bid to acquire the non-residential businesses of Australand.
A <a target="_blank" href="/news">$2.8 billion bid</a> to acquire Australand’s investment property portfolio and commercial and industrial businesses was rejected in December.
"The GPT Group (GPT) announces that it has withdrawn from pursuing a proposal with the Board of the Australand Property Group (Australand) to acquire its Commercial and Industrial assets and business," said the A-REIT. "GPT expressed an interest to work with Australand in early December 2012 to develop a proposal in the interests of both sets of securityholders.
"Following the completion of  detailed due diligence and discussions, it has become apparent that a transaction at a price that GPT is willing to pay is not possible. "GPT has maintained a disciplined approach and has consistently advised the market that it does not need to proceed with the transaction to achieve its strategic goals. "GPT will continue with its existing organic growth plans for its logistics &amp; business parks and office portfolios and allocate capital accordingly," said GPT. 

</body></html>

GPT pulls out of Australand bid 

<html><body>
Mortgage lender RAMS has cut its one-year fixed home loan rate by four basis points to 4.95% p.a. and its three-year fixed home loan rate by 10 basis points from 5.09% to a low 4.99% p.a.
The new rates take effect from tomorrow (May 28).
It follows less than two weeks since RAMS <a href="/news">last cut its fixed rates</a> following the RBA May cash rate cut, with its two-year fixed home loan also falling to 4.99%.
“These interest rate cuts to our fixed home loan rate further demonstrates our commitment at RAMS to bringing Australians a better deal. RAMS continues to offer some of the most competitive and attractive fixed home loan rates on the market to help everyday Australians into homes," said RAMS chief executive Melos Sulicich.
“Fixing your interest rate could be a smart option allowing customers to lock in certainty of monthly repayments. Another option to consider is splitting your home loan between fixed and variable interest rates to make the best of both worlds,” he said.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="106" valign="top"></td>
<td width="106" colspan="2" valign="top">One year</td>
<td width="106" colspan="2" valign="top">Two year</td>
<td width="106" colspan="2" valign="top">Three year</td>
<td width="106" colspan="2" valign="top">Four year</td>
<td width="106" valign="top">Five year</td>
</tr>
<tr>
<td width="106" valign="top">
New Rate 
</td>
<td width="106" colspan="2" valign="top">
4.95% 
</td>
<td width="106" colspan="2" valign="top">
4.99%
</td>
<td width="106" colspan="2" valign="top">
4.99% 
</td>
<td width="106" colspan="2" valign="top">
5.39%
</td>
<td width="106" valign="top">
5.45%
</td>
</tr>
<tr>
<td width="106" valign="top">
Comparison Rate* 
</td>
<td width="106" colspan="2" valign="top">
6.07% 
</td>
<td width="106" colspan="2" valign="top">
5.98%
</td>
<td width="106" colspan="2" valign="top">
5.91% 
</td>
<td width="106" colspan="2" valign="top">
5.98%
</td>
<td width="106" valign="top">
5.97%
</td>
</tr>
</tbody></table>
Source: RAMS
</body></html>

RAMS cuts three-year fixed-rates to 4.99%

<html><body>
A Perth estate agency trading as a Century 21 office has become the fourth company to be fined recently for taking too long to lodge a number of tenants’ bonds with the WA Bond Administrator.
Maida Vale-based Dalefin Holdings Pty Ltd, trading as Century 21 Eastbelle Realty, took on average, three months to lodge 14 security bonds totalling more than $22,000. Some bonds were not lodged until more than four months after they were received.
It is the second WA estate agency in less than a week to be fined for this offence.
Dalefin Holdings was fined $8,000 after pleading guilty in the Midland Magistrates Court on 23 May 2013 to 14 charges of failing to lodge bonds ‘as soon as practicable’ as required by the Residential Tenancies Act.
The Court also ordered the agency to pay legal costs of $275.
Last week Bunbury property management company <a href="https://www.propertyobserver.com.au/industry-news/bunbury-property-management-firm-fined-%2410000-for-late-bond-lodgement-consumerwa/2013052261594">Just Property Management (WA) Pty Ltd </a>was fined $10,000 for late bond lodgement.
Lawyers for WA’s Consumer Protection told the Court that Dalefin Holdings had taken, on average, three months to lodge 14 security bonds totalling more than $22,000.
The bonds were collected between October 2011 and February 2012 and, in some cases, were not lodged until more than four months after they were received. The agency had received formal warnings on two previous occasions.
Three other companies have been recently fined for similar breaches:
<ul>
<li>A real estate agency was fined $15,000 in December 2011 over 51 late lodgements that were 17 to 72 days late</li>
<li>A real estate agency was fined $10,000 in April 2013 over 27 late lodgements that were, on average, 38 days late</li>
<li>A property management company was fined $10,000 earlier this month over 37 late lodgements that were 17 to 46 days late</li>
</ul>
Commissioner for Consumer Protection Anne Driscoll said real estate agencies and property managers need to review their office procedures to ensure speedy lodgement of bonds.
“It’s essential that tenants’ funds are safe and secure and lodged with the Bond Administrator as soon as possible. Taking many weeks or even months to do so is unacceptable and is a breach of the law,” she said.
“The appropriate lodgement and security of tenant’s bond moneys is an issue that Consumer Protection takes seriously. Agents and property managers need to keep their business in order so they don’t run the risk of being prosecuted.”
</body></html>

Perth Century 21 branch the latest to be fined $8,000 for late bond lodgements

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Larry Schlesinger

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