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Bendigo Bank has announced it will decrease its variable home loan interest rate by 25 basis points to 6.26% p.a.
Customers with an average variable home loan of $250,000 will see their repayments decrease by $41 a month (principal and interest home loan over 30 years).
Under the same banking group, Adelaide Bank has announced it will also reduce its standard variable home loan rates by 25 basis points.
The bank's variable smartfit home loan will reduce from 5.81% to 5.56%.
The lower rates kick in on May 27.
Bendigo and Adelaide Bank managing director Mike Hirst said the rate change aims to create a fair balance for all the bank’s key stakeholders. 
“When setting interest rates our Bank needs to take into account a wide range of factors and carefully consider its key stakeholders including borrowers, depositors, staff, shareholders, partners and the wider community,” Hirst said. 
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Bendigo Bank cuts variable home loan rates by 25 basis points

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CUA has cut its standard variable home loan rate by 25 basis points to 5.60% - an average of 57 basis points lower than the average of the big fours banks.


It has also announced fixed rate cuts with its three-year fixed rate home loan by 11 basis points to 4.99% and cut its three-year fixed rate premium home loan to 5.30%. 
The rate breaker package product will be reduced to 5.17% while CUA’s one year introductory standard variable rate will be reduced by 25 basis points to 5.22%. 
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CUA passes on full rate cut to borrowers with 5.6% standard variable offering

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The dust has almost settled following the RBA’s decision to cut the cash rate by 25 basis points to a 53-year-low of 2.75%.
Reflecting better funding conditions, the Greater Building Society was the standout lender, passing on 30 basis points to borrowers followed by ANZ which passed on 27 basis points, saving borrowers between $50 and $60 per month for those on a $300,000 variable-rate mortgage. 
Nearly all lenders diligently passed on the 25 basis points in full, but from different starting points so even if your lender has passed on the rate cut in full, your new home loan rate may not look that attractive.
Westpac chief economist Bill Evans has also highlighted that while the cash rate may be at a record low of 2.75%, the average standard variable rate is someway off the 2009 low of 5.75% with lenders increasing their margins since the GFC by not passing on rate cuts in full and in some cases, lifted rates independently of the RBA.
RateCity.com.au CEO Alex Parson highlights that prior to the Tuesday rate cut, the benchmark standard variable rate was 6.42%.
“While this is the lowest level since December 2009, it is still 3.42 percentage points above the cash rate and the biggest spread we’ve ever seen,” Parson says.
There's also a big spread in the standard variable mortgage offerings - the benchmark at which all lenders price their home loans - as this table shows, starting from 4.75% and rising to 6.22%:
<div align="center">
<table align="left" style="width: 470px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td colspan="3" nowrap width="100%">
Lenders that passed
on more than 0.25%
</td>
</tr>
<tr>
<td nowrap width="31%">
Company
</td>
<td nowrap width="37%">
Standard variable
rate movement
</td>
<td nowrap width="30%">
New standard
variable rate
</td>
</tr>
<tr>
<td nowrap width="31%">
Greater Building Society
</td>
<td nowrap width="37%">
-0.30%
</td>
<td nowrap width="30%">
5.75%
</td>
</tr>
<tr>
<td nowrap width="31%">
ANZ
</td>
<td nowrap width="37%">
-0.27%
</td>
<td nowrap width="30%">
6.13%
</td>
</tr>
<tr>
<td colspan="3" nowrap width="100%">
Lenders that passed
on the full 0.25% cut
</td>
</tr>
<tr>
<td nowrap width="31%">
Adelaide Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.56%
</td>
</tr>
<tr>
<td nowrap width="31%">
Aussie Home Loans
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.24%
</td>
</tr>
<tr>
<td nowrap width="31%">
Bank MECU
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.74%
</td>
</tr>
<tr>
<td nowrap width="31%">
Bank of Melbourne
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.15%
</td>
</tr>
<tr>
<td nowrap width="31%">
Bank SA
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.22%
</td>
</tr>
<tr>
<td nowrap width="31%">
Bankwest
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.14%
</td>
</tr>
<tr>
<td nowrap width="31%">
BOQ
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.26%
</td>
</tr>
<tr>
<td nowrap width="31%">
Commonwealth Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.15%
</td>
</tr>
<tr>
<td nowrap width="31%">
CUA
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.60%
</td>
</tr>
<tr>
<td nowrap width="31%">
Heritage Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.89%
</td>
</tr>
<tr>
<td nowrap width="31%">
IMB
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.91%
</td>
</tr>
<tr>
<td nowrap width="31%">
ING DIRECT
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.41%
</td>
</tr>
<tr>
<td nowrap width="31%">
loans.com.au
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
4.87%
</td>
</tr>
<tr>
<td nowrap width="31%">
MyRate
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.42%
</td>
</tr>
<tr>
<td nowrap width="31%">
nab
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.13%
</td>
</tr>
<tr>
<td nowrap width="31%">
P&amp;N Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.95%
</td>
</tr>
<tr>
<td nowrap width="31%">
People’s Choice
Credit Union
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.12%
</td>
</tr>
<tr>
<td nowrap width="31%">
Police Credit
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.74%
</td>
</tr>
<tr>
<td nowrap width="31%">
St George Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.24%
</td>
</tr>
<tr>
<td nowrap width="31%">
Suncorp Bank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.24%
</td>
</tr>
<tr>
<td nowrap width="31%">
State Custodians
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
5.09%
</td>
</tr>
<tr>
<td nowrap width="31%">
UBank
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
4.87%
</td>
</tr>
<tr>
<td nowrap width="31%">
Westpac
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.26%
</td>
</tr>
<tr>
<td nowrap width="31%">
Yellow Brick Road
</td>
<td nowrap width="37%">
-0.25%
</td>
<td nowrap width="30%">
6.15%
</td>
</tr>
<tr>
<td colspan="3" nowrap width="100%">
Lenders that passed
on less than 0.25%
</td>
</tr>
<tr>
<td nowrap width="31%">
Community First
Credit Union
</td>
<td nowrap width="37%">
-0.22%
</td>
<td nowrap width="30%">
6.12%
</td>
</tr>
<tr>
<td nowrap width="31%">
loans.com.au*
</td>
<td nowrap width="37%">
-0.24%
</td>
<td nowrap width="30%">
4.75%
</td>
</tr>
<tr>
<td nowrap width="31%">
Police Bank
</td>
<td nowrap width="37%">
-0.20%
</td>
<td nowrap width="30%">
5.84%
</td>
</tr>
</tbody></table>
</div>
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Source: RateCity.com.au, ranked by biggest cuts then alphabetically, effective dates vary between lenders/ *For new loans.com.au home loan customers
But as highlighted by Bill Evans, the picture is complicated by discount offerings and very low online home loan rate offerings, these often come with high deposit requirements or a minimum home loan size.
Rate cut announcements made by lenders generally mention the new standard variable rate on offer, but most borrowers would receive some sort of discount off this rate if they take out a packaged home loan, borrow a large enough amount or if they qualify for a discounted special.
This may be an introductory rate (sometimes called a honeymoon rate) or a rate for the life-time of the loan (called a discounted home loan rate).
For example, Yellow Brick Road has cut its standard variable rate to 6.15% but is offering a 1.25% discount of the first 12 months of the loan and 86 basis points off the life of the loan after this period.
Credit union CUA passed on the full rate cut, reducing its standard variable rate to 5.6% on May 20 but will also offer a discounted variable rate of 5.17% under its package offering as well as a honeymoon rate of 5.22%.
NAB may have passed on the full rate cut to borrowers to offer a standard variable rate of 6.13% but many borrowers will be on packaged home loan rates with discounts from 50 to 85 basis points.
Some eyebrows though may be raised at NAB’s online offering Ubank, which will offer a discounting refinancing rate of 4.87% when its cheaper online rates kick in on May 17.
Non-bank lender State Custodians has cut its standard variable rate to 5.09%, but will offer its peak performance loan at a very low 4.74%, with a 20% deposit requirement.
A rate cut should rightly spur some borrowers on variable rate loans or those with fixed rate loans (where the term will soon expire) to review their current mortgage and the rate they are paying together with any fees as well as the benefits and perhaps put in a call to their mortgage broker or lending manager.
But certainly you should not rush into a refinancing your home loan until you have a comprehensive understanding of the costs and fees involved, your personal circumstances and long-term objectives and what refinancing will actually mean in terms of paying off your home loan.
Signing up to an eye-catching low rate because the online offer will expire in 10 days is where the expression “only fools rush in” is most apt.
A good starting point is to arm yourself with knowledge.
Download a <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage">free copy of the Property Observer ebook: 12 tips for refinancing your mortgage</a> and watch the free Property Observer webinars <a target="_blank" href="/news">Refinancing and the interest rates riddle</a> and the <a target="_blank" href="/news">The Do's and Don'ts of Refinancing Your Existing Home Loan - and How to Avoid Unnecessary Hurdles</a>.
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Home loan rates guide: What's now on offer and what you should be considering after the historic RBA cash rate cut

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Mortgage demand is picking up, conditions are improving in the housing market and indicators and enquiries suggest demand for new housing is strengthening, the RBA has said in a more upbeat assessment of of the mortgage and property market in its monthly statement on monetary policy.
The statement reveals that low inflation, the high Australian dollar and a weaker economic outlook  - rather than housing market concerns - were behind its decision to cut the cash rate to a historic 53-year-low of 2.75% on Tuesday.
"There are signs of an increasing appetite for borrowing in the household sector, with approvals for housing and personal loans increasing over recent months," says the RBA in its introduction to the lengthy statement.
"This coincides with improved conditions in the housing market. Dwelling prices are around 4% above their low point of mid 2012 and auction clearance rates have also increased to be at, or above, long-run average levels.
"Higher house prices, low borrowing rates and a tight rental market should support a recovery in dwelling investment. 
"Notwithstanding a decline in building approvals for higher-density housing in the March quarter, forward-looking indicators suggest that demand for new housing is gradually strengthening.
"This is also apparent in the Bank’s business liaison, with firms noting that enquiries from prospective purchasers and visits to display homes have increased," says the RBA.
The RBA says forecasts for the domestic economy embody a "gradual shift in growth from investment in the resource sector towards exports, non-mining investment and household demand".
"This rebalancing appears to be beginning, but inevitably there remains considerable uncertainty about exactly how it will unfold."
The RBA makes it clear that low inflation, a weaker economic outlook and the high Australian dollar were the main catalysts for the decision to resume its easing policy in May.
"Over 2012, the Board reduced the cash rate by 125  basis points, bringing it to 3% and borrowing rates close to their previous lows.
"Since then, signs have emerged that the economy has been responding to the low level of interest rates,"
However, it says the exchange rate has been "little changed at a historically high level over the past 18 months, which is unusual given the decline in export prices and interest rates during that time"
"Moreover, the demand for credit has thus far remained relatively subdued.
"Over the earlier part of this year, the Board held the cash rate steady while carefully assessing economic developments and noting that the inflation outlook would afford scope to ease further, should that be necessary to support demand.
"At its May meeting, with inflation a little lower than had been expected, and growth of economic activity likely to remain below trend into next year, the Board judged that a further reduction in the cash rate would help to support sustainable growth in the economy, and would be consistent with achieving the inflation target.
"The Board will adjust the cash rate as appropriate to foster sustainable growth and low inflation," says RBA, suggesting that further rate cuts will be considered.
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RBA notes signs of "increased appetite" for mortgages in improving housing market

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Fresh from announcing its new strategic focus on acquiring prime office assets in the major capital cities, Mirvac has swooped to acquire GE’s seven office property portfolio for $584 million covering 83,500 square metres of office space.
It is being acquired at an initial passing yield of 7.8%.
The portfolio includes two A Grade office towers – the 90 Collins Street office tower at the Paris End of Collins Street with 21,000 square metres of office space, acquired for $170 million and the 28,000 square metre Allendale Square skyscraper in Perth, acquired for $231 million.
Allendale Square is a 32-level building with tenants include ANZ and Minter Ellison, built in 1976 and refurbished in 2002.
The 90 Collins Street tower covers 22 levels and was built in 1988, refurbished in 2011. It stands in between the iconic 101 and 120 Melbourne office towers with tenants including Westpac and VicSuper.
The five other buildings are all in Sydney: 210 and 220 George Street, 37 and 51 Pitt Street and 6-8 Underwood Street, just off George Street..
The acquisitions are being funded via a $400mn equity raising and an offer to Mirvac securityholders.
“The key properties in this portfolio are the five Sydney properties (only 31% of the portfolio) which are located next to, or in immediate proximity to Mirvac’s current office development project at 200 George Street,” notes Goldman Sachs A-REIT analyst Simon Wheatley.
“These properties, within the bounds of George, Pitt, Dalley and Alfred St’s, comprise a re-development opportunity, with 210 and 220 George St set for an initial upgrade, with potential for future site consolidation and redevelopment.
“The three properties on the corner of Pitt and Underwood St present more immediate potential for redevelopment of a 30,000sqm office building. “
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Mirvac kicks off new strategic focus with $584 million CBD office portfolio acquisition

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ANZ has cut its standard variable mortgage rate by 27 basis points, the first time the bank has cut rates by more than the RBA's official cash rate reduction since announcing its independent interest rate review in December 2011.
Westpac, NAB and the Commonwealth Bank have all passed on 25 basis points to borrowers.
Only the Greater Building Society has passed on more than ANZ with its <a href="/news">30 basis point rate cut announced yesterday</a>.
ANZ's standard variable rate will reduce from 6.40% to 6.13% from May 17 (6.23% p.a. comparison rate) and will steal some of NAB's thunder.
NAB has claimed the lowest standard variable rate for the past 46 months, but must now share that title with ANZ.
NAB will reduce its variable rates from May 13.
The Commonwealth Bank will reduce its standard variable rate to 6.15% on May 13 with Westpac the outlier with a standared variable rate of 6.26% from May 20.
The 27 basis point decrease will save ANZ customers about $60 per month or $750 per year for the average home loan of $280,000.
Since announcing it would go it alone on interest rates, ANZ has twice lifted the cash rate independently of the RBA
It increased variable rates by 6 basis points in February last year and by 6 basis points in April.
“This month we reviewed a range of factors including the Reserve Bank’s decision to decrease the official cash rate this week, our competitive position and a recent easing in the cost of our wholesale funds," said ANZ CEO Australia Philip Chronican
“While competition for deposits remains strong, our overall funding cost position hasallowed us to reduce variable mortgage rates by 0.27%pa.
“This decision reflects ANZ’s approach to reviewing retail lending rates each month which includes an assessment of our overall funding costs and I’m pleased our mortgage customers will see a benefit this month,” he said.
ANZ also said that variable rates for small business lending would decrease by 25 basis points.
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ANZ beats the RBA and all rival lenders bar one with 27 basis points rate cut

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Mermaid Beach, the Gold Coast suburb made famous by the dramatic plunge in beachfront property values along Hedges Avenue following the GFC, is Australia's worst-performing suburb since 2009.
Median prices of two-bedroom houses in Mermaid Beach have fallen nearly 66% in the last four years while the four-bedroom house prices have fallen nearly 57%, according to a new report compiled by property investment group Real Estate Investar using Australian Property Monitors data.
The top ten worst total four year median price performance suburbs
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="103" valign="top">
Suburb
</td>
<td width="103" valign="top">
State
</td>
<td width="103" valign="top">
Dwelling type
</td>
<td width="103" valign="top">
Median price
</td>
<td width="103" valign="top">
One year median price growth
</td>
<td width="103" valign="top">
Four year median price growth
</td>
</tr>
<tr>
<td width="103" valign="top">
1. Mermaid Beach
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
2 bedroom house
</td>
<td width="103" valign="top">
$413,000
</td>
<td width="103" valign="top">
-22.74%
</td>
<td width="103" valign="top">
-65.56%
</td>
</tr>
<tr>
<td width="103" valign="top">
2. Burleigh Heads
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
2 bedroom house
</td>
<td width="103" valign="top">
$206,000
</td>
<td width="103" valign="top">
-51.25%
</td>
<td width="103" valign="top">
-60.62%
</td>
</tr>
<tr>
<td width="103" valign="top">
3 Mermaid Beach
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
4 bedroom houses
</td>
<td width="103" valign="top">
$972,000
</td>
<td width="103" valign="top">
-24.8%
</td>
<td width="103" valign="top">
-56.80%
</td>
</tr>
<tr>
<td width="103" valign="top">
4. Bilinga
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
3 bedroom house
</td>
<td width="103" valign="top">
$449,500
</td>
<td width="103" valign="top">
-37.14%
</td>
<td width="103" valign="top">
-55.05%
</td>
</tr>
<tr>
<td width="103" valign="top">
5. Sunshine Beach
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
4 bedroom
</td>
<td width="103" valign="top">
$1.295m
</td>
<td width="103" valign="top">
-26%
</td>
<td width="103" valign="top">
-52.91%
</td>
</tr>
<tr>
<td width="103" valign="top">
6. Mandurah
</td>
<td width="103" valign="top">
WA
</td>
<td width="103" valign="top">
Studios  &amp; 1 bedroom units
</td>
<td width="103" valign="top">
$190,000
</td>
<td width="103" valign="top">
+40.74%
</td>
<td width="103" valign="top">
-51.90%
</td>
</tr>
<tr>
<td width="103" valign="top">
7. Bonny Hills
</td>
<td width="103" valign="top">
NSW
</td>
<td width="103" valign="top">
2 bedroom house
</td>
<td width="103" valign="top">
$169,500
</td>
<td width="103" valign="top">
+25.55%
</td>
<td width="103" valign="top">
-51.85%
</td>
</tr>
<tr>
<td width="103" valign="top">
8. Bilinga
</td>
<td width="103" valign="top">
QLD
</td>
<td width="103" valign="top">
3 bedroom unit
</td>
<td width="103" valign="top">
$820,000
</td>
<td width="103" valign="top">
+8.25%
</td>
<td width="103" valign="top">
-50.31%
</td>
</tr>
<tr>
<td width="103" valign="top">
9. Safety Beach
</td>
<td width="103" valign="top">
VIC
</td>
<td width="103" valign="top">
3 bedroom unit
</td>
<td width="103" valign="top">
$399,000
</td>
<td width="103" valign="top">
-3.86%
</td>
<td width="103" valign="top">
-49.82%
</td>
</tr>
<tr>
<td width="103" valign="top">
10. Ultimo
</td>
<td width="103" valign="top">
NSW
</td>
<td width="103" valign="top">
Studios  &amp; 1 bedroom units
</td>
<td width="103" valign="top">
$185,000
</td>
<td width="103" valign="top">
+3.35%
</td>
<td width="103" valign="top">
-49.8%
</td>
</tr>
</tbody></table>
Source: Real Estate Investar
The median price for two-bedroom houses on Mermaid Beach has fallen to just $413,000 while four-bedroom houses now sell for around $972,000.
And the decline on Mermaid Beach has not been arrested in the last year, despite some improvement in the Gold Coast market with the most recent Prodap Report recording a 7.4% rise in average Gold Coast house prices over the first three months of the year.
Two-bedroom Mermaid beach house prices are down 23% over the past 12 months while four-bedroom houses are down 25%.
The collapse in real estate prices on Mermaid Beach has led to accusations by real estate agent Rod Lambert that investors were duped into buying multimillion-dollar properties as part of an elaborate price-fixing scam.
A legal battle between <a target="_blank" href="https://www.propertyobserver.com.au/legal/rod-lambert-s-%24175-million-gold-coast-claim-and-other-courtroom-conflicts-to-consider-in-2013/2013012458976">Lambert and ex-Ray White Estate agent Michael Kollosche</a> and other parties is currently underway over the sale of a property site to Lambert and his wife for $10.6 million in 2007.
Recent sales on Mermaid Beach include a <a target="_blank" href="https://www.homehound.com.au/30+arthur+street+mermaid+beach+qld+4218/">four-bedroom house on Arthur Street</a> just a block from the beachfront, which sold for $800,000 in January 2013.
It previously sold for $1 million in July 2005, a 20% drop in value.
In November 2011, Property Observer compiled a list of the <a target="_blank" href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610">eight biggest losses on Mermaid Beach</a>, led by 199 Hedges Avenue, sold in 2011 for $7,700,000, last sold for $17.5 million in 2007, a loss of 56%.
Queensland coastal suburbs occupy the top five positions on the list of worst-performing locations with two-bedroom houses in Burleigh Heads second with a 61% decline over the past four years.
Bilinga, a southern beachfront suburb on the Gold Coast ranked fourth with three-bedroom house prices down 55% followed by prestige Sunshine Beach market on the Sunshine Coast, where prices have fallen 53% with a 26% decline recorded over the past 12 months.
The worst performing unit market is Mandurah, the regional city south of Perth where studio and one-bedroom apartments are down 52%, though values have recovered in the past 12 months, up 40.7% to a median of $190,000.
Investors may be surprised to see Ultimo, the inner Sydney suburb amongst the top 10 with studio and one-bedroom apartment prices down nearly 50% over the past four years with a median price of $185,000.
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Mermaid Beach still poorly performing, with Mandurah and Ultimo bouncing back from their GFC lows

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John McGrath is targeting sea and tree-changers with the opening of a new McGrath Estate Agent office in the northern NSW coastal resort town of Byron Bay.
McGrath Byron Bay will complement the established Ballina office, which opened at the end of 2009.
"Byron Bay and its surrounding hinterland have long been desirable locales for city people looking to make a sea or tree change and the real estate market has improved considerably in the last 12 months,” says McGrath chief executive John McGrath.
“The area has always been part of our expansion plans as we see it as synergistic with our existing client base and now is the perfect timing to open an office here.
“While median house prices are relatively high compared with other nearby beach areas, the region offers a lifestyle which is highly attractive and affordable to retirees, or professionals and their families, from Sydney, Brisbane and Melbourne,” he says.
The median house price for Byron Bay is $555,000 and the median unit price is $430,000, according to March figures from realestate.com.au.
There have been a number of sales above $1 million in recent months and beachfront houses in prestigious Wategos Beach range from $2 million to $7 million.
Prestige listings include the Rae's on Watego's guesthouse at <a target="_blank" href="/news">Byron Bay</a>, re-listed in February after its $20 million purchaser failed to settle an October 2012 pre-auction deal.
The Byron Bay office is the fourth in a McGrath franchise group led by David Mills.
This group includes McGrath Ballina (formerly Ballina/Byron Bay), Coolangatta/Tweed and Palm Beach. 
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John McGrath expands northern NSW coastal presence with Byron Bay office

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The expected surge of high net worth Chinese investors spending $5 million in Australia to be eligible for the signficant investor visa (SIV) has coincided with a rise in Chinese online searches for Australian property and Macquarie launching a new series of SIV funds.
Chinese international property portal Juwai.com has recorded a 61% rise in Australian residential property searches since the start of the year with property viewings up 162% over the same period.
Around 82% of Juwai.com users are from mainland China with the remainder located in Australia, South East Asia and other countries.
Direct residential property investment is not a qualifiable investment under the visa program but estate agents expect an increase in demand for prestige property in Sydney and Melbourne from successful visa applicants seeking a home in Australia.
"Chinese buyers seek out Aussie property because of Australia's stable housing market, regulatory protection and the fact that its time zone is very close,” says Andrew Taylor, Co-CEO of Juwai.com.
“East Coast Australia is only two hours different from Shanghai and Beijing, while Perth is in the same time zone as the Chinese cities.”
“Recent initiatives such as the significant investment visa have had an impact on cementing Australia as a preferred property investment destination,” he says.
The signficant investor visa opportunity is noted in the <a href="https://www.juwai.com/news27437.htm" target="_blank">news section of Juwai.com</a>.
Last weekend, the first significant investor visa was granted to a <a href="/news">Chinese toy manufacturer</a> and his family.
Immigration minister Brendan O’Connor said 170 significant visa applications have been lodged, totalling a potential of $850 million in investment.
A spokesperson for the Department of Immigration said further visa approvals would not be far off.
Macquarie has recently launched four managed investment funds aimed at signficant visa applicants. The funds require a minimum $1 million investment.
Complying significant visa investments are Commonwealth, State or Territory government bonds, ASIC-regulated regulated managed funds with a mandate for investing in Australia; and direct investment into Australian proprietary companies.
Direct property investments of $5 million are not qualifying investments, but managed funds can hold property assets.
Macquarie says in its fund information memorandum that they are “designed for investors who are applying for a Significant Investor Visa issued by the Australian Department of Immigration and Citizenship”.
Three out of the four funds hold a small weighting in listed property trusts.
Taylor also highlighted the recent convertible currency deal between Australia and China, where the Australian dollar and Yuan convert directly, which he said “will nurture Chinese buyer interest in to the future.”
China’s fifth largest bank, Bank of Communications, says it plans to allow its clients to convert the Australian dollar directly into yuan.
Australia is only the third country to have such a currency agreement with China.
Juwai.com notes ABS figures which show that the number of Chinese-born people living in Australia increased by 54% between 2006 and 2011
“The number of Chinese who settled permanently in Australia soared by 16% since 2010. The number was 17,580 in 2012, up from 15,780 in 2011 and 14,720 in 2010.
“Short-term Chinese visitors are rising even faster. They have tripled in the last decade to 630,000. Chinese tourists are now the second biggest visitor group to Australia, behind New Zealanders,” says Juwai.com.
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Chinese online searches for Australian property up 61% as Macquarie targets significant investor visa applicants

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ME Bank has cut its standard variable mortgage rates by 0.25% following the RBA’s decision to lower the official cash rate to 2.75% p.a. 
Home loans marketed by the lender are available to eligible super funds and unions and currently more than 50 basis points lower than that of the nearest major bank.
However, the new rates are only effective from May 28 -  a full three weeks after the cash rate reduction.
The standard variable rate drops from 5.88% p.a. to 5.63% p.a., and the member package variable rate drops from 5.68% p.a. to 5.43% p.a. (for customers borrowing up to $500,000). 
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ME Bank passes on full rate cut but with late May 28 start date

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Larry Schlesinger

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