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.

Joel Robinson

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]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

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There has never been a shortage of people calling property unaffordable and it has become common practice to discuss the idea of parents becoming guarantors for their children to assist, particularly where deposits are not sufficient.
Becoming a guarantor leaves the parents with a loan over their home, restricting their potential future borrowing capacity and leaving them at the mercy of their children’s astute repayments.
However, Smartline Personal Mortgage Advisers’ executive director Joe Sirianni is pointing to a potential new solution. Under this loan structure, which differs from a straightforward cash loan or gift to your child, the bank lends up to 90% of the property value, with a separate loan from the parents of 10% to 20% of the home.
It must be a freestanding property that the first home buyer is purchasing, explains Sirianni.
“Many parents are keen to give their children assistance to give them that first leg up on the property ladder, which is admirable, but it is a big commitment,” he said.
“Providing a guarantee can, in the worst case scenario, leave the parents open to losing their home if the child can’t or won’t meet their debt obligations to the bank. Even without the worst happening, being a guarantor can still impact on the parents’ ability to borrow or sell the property.”
He also warned that cash loans and gifts are often not recognised by lenders as a genuine deposit or could be lost if a child and their partner split up.
“The only thing riskier than lending to family is lending to complete strangers, which is what banks do thousands of times a day,” he said.
Sirianni explains this structure effectively gives the child two loans. While the smaller loan is to the parents, the bank still manages the repayments, security and paperwork for the parent’s loan for a deposit. The interest rate charged on the portion of the loan that is from the parents is 50% that of the main loan.
Those giving their children the loan can see the full amount paid out through repayments or as a result of sale or refinancing.
“While some parents may have been very reluctant to provide financial assistance in the past, they should feel far more comfortable knowing they have security over the children's property,” said Sirianni.
“It will no doubt make it easier for children to ask for help, and for parents to be able to say yes, knowing they are protected.”
One such product, from Bluebay Home Loans, is called a Parent Assist Loan. It markets itself as an Australian first.
Interestingly, parents who involve themselves in these loans are also eligible to receive a share of the investment growth on the property.
{mijopolls 64}
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jduke-EHk3XBmHkn

Would you give a loan to your children? 

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The Reserve Bank Governor Glenn Stevens says the RBA does not take a doctrinaire view of the ‘correct’ level of house prices. 
"The endless discussion about whether or not the level of prices constitutes, at any one time, a ‘bubble’ is not very productive," he noted in his address to the Committee for Economic Development of Australia (CEDA) which was unusually insightful.
"We can observe that, for more than a decade, the level of prices relative to disposable income has been noticeably higher than it used to be, and not just in Australia.
"If that is a bubble, it is a remarkably long-lived and widespread one.
"But even if we lose no time arguing over that question, it is still the fact that prices go up AND down, and that these trends matter for the economy.
"If we are interested in strong and steady growth, we have an interest in dwelling prices and indeed all asset prices."
<a href="/expert-insights/finance/property-investor-animal-spirits-needed-in-wider-economy-rba-governor-glenn-stevens">Offering a few observations on the topic of house prices</a>, Glenn Stevens noted having fallen in late 2010 and 2011, dwelling prices have since risen, with the median price across the country up by around $100 000 – about 18% – since the low point.
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jchancellor-FAypfDUnLy

Endless Australian housing bubble discussion unproductive: RBA's Glenn Stevens

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The Reserve Bank of Australia governor Glenn Stevens has said it should not be assumed that property investor activity is problematic. 
"Investment in new and existing dwellings is rising," he noted in an unusually insightful speech, titled '­Economics Possibilities', to the annual dinner the Committee for Economic Development of Australia.
"It ought to be possible, if we are being sensible both on the demand management side and the supply side, for this to go further yet and, more importantly, for the level of activity to stay high for longer than the average cyclical experience. 
"A high level of construction, maintained for a longer period of time, is vastly preferable to a very sharp boom and bust cycle. 
"That alternative outcome might give us a higher peak in the near term, but then a slump in the housing sector at a time when the fall in mining investment is still occurring. 
"A sustained period of strong construction will be more helpful from the point of view of encouraging growth in non-mining activity – and also, surely, from a wider perspective: housing our growing population in an affordable manner."
Stevens said it was "not clear whether price increases will continue or abate.
"Furthermore, it is not to be assumed that investor activity is problematic, per se. 
"A proportion of the investor transactions are financing additions to the stock of dwellings, which is helpful. 
"It can also be observed that a bit more of the ‘animal spirits’ evident in the housing market would be welcome in some other sectors of the economy," he said.
Offering a few observations on the topic of house prices, Glenn Stevens noted having fallen in late 2010 and 2011, dwelling prices have since risen, with the median price across the country up by around $100 000 – about 18% – since the low point.
The Reserve Bank Governor Glenn Stevens <a href="/expert-insights/finance/endless-australian-housing-bubble-discussion-unproductive-rbas-glenn-stevens">noted the RBA does not take a doctrinaire view of the ‘correct’ level of house prices. </a>
"Prices have risen in all capitals, with a fair degree of variation: the smallest increase has been in Canberra, at about 6%, and the largest in Sydney, at 28%."
Credit outstanding to households in total is rising at about 6–7% per year.
"I see no particular concern with that.
"When we turn to the rate of growth of credit to investors in particular, we see that it has picked up to about 10% per annum over the past six months, with investors accounting for almost half of the flow of new credit.
"It is not clear whether this acceleration will continue or abate."
It was not the first time he had used the phrase, but the first time in relation to property sentiment.
In August he told a Parliamentary committee the RBA would like to see companies spending money, hiring more workers and investing in new plant rather than increasing dividends and repricing existing assets.
"The thing that is most needed now is something monetary policy can't directly cause: more of the sort of 'animal spirits' needed to support an expansion of the stock of existing assets (outside the mining sector), not just a re-pricing of existing assets," he said.
Property Observer assumes "animal spirits" references the term John Maynard Keynes used in his 1936 book The General Theory of Employment, Interest and Money to describe the instincts, proclivities and emotions that ostensibly influence and guide human behavior, and which can be measured in terms of, for example, consumer confidence.
The original passage by Keynes reads: "Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits—a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities."
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Property investor 'animal spirits' needed in wider economy: RBA Governor Glenn Stevens

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The ‘cooling off period’ is a right that the buyer has when they sign the contract for sale of a residential property. It provides them a number of days to back out of the contract.
If you don’t know what a cooling off period is, you can <a href="/expert-insights/buying/what-is-the-cooling-off-period-investment-terms-explained">read more about it in our quick explainer here</a>.
The terms of the contract vary from state to state, though there are many similarities.
Consumer Affairs Victoria details six occasions where a buyer, usually, cannot cool off. They also note that a clause in a contract cannot be used to remove the right to cool off where it is allowed.
<ol>
<li>On commercial or industrial properties. 
</li>
<li>On rural properties larger than 20 hectares. 
</li>
<li>On a property sold at public auction, or within three clear business days before or after an auction. 
</li>
<li>If they are an estate agent or an agent's representative. 
</li>
<li>If they are a company. 
</li>
<li>If they have previously entered into a contract of sale with the seller for the same property with substantially the same terms.</li>
</ol>
Ensure you obtain legal advice around the nature of your cooling off period.
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Six times the “cooling off period” does not apply: Consumer Affairs Victoria

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Major lenders' grip on the home loan market loosened last month, according to mortgage broker AFG.
In September, loans from major lenders accounted for 73.3% of all home loans processed. Last month, that figure dipped to 71.7%.
ANZ, however, managed to increase the proportion of total loans it processed for the month, knocking the Commonwealth Bank off the top spot. After processing 16.9% of all home loans in September, ANZ increased their market share to 17.6% for October. The Commonwealth Bank accounted for 16.8% of October loans, down from 17.1% in September.
Overall, non-major lenders increased their market share, particularly with loans to refinancers.
In October one in three refinances used a non-major lender, according to AFG.
While 28.3% of all new mortgages processed last month were made with non-major lenders, 34% of last month's refinancers chose to forgo the major banks.
Among the non-major lenders, Suncorp had the largest share of refinancing loans in October, with 10.3%. Macquarie Bank was the second most popular non-major lender with refinancers, processing 7.5% of all refinancing loans for the month.
Of the major lenders, Westpac processed the most refinancing loans, with a 8.8% share.
AFG's general manager of sales and operations Mark Hewitt says borrowers' increasing willingness to consider minor lenders is "very encouraging from a competition perspective."
"Suncorp are a great example of this," says Hewitt.
"Traditionally they have struggled outside their home state of Queensland however through delivering on a combination of customer value and  service they have reached an all-time market share high of 8.2%."
Among first home buyers, major lenders still dominate, processing 69.1% of all October loans. Keystart, the Western Australian government-backed initiative, was the biggest non-market lender, with 10.3% of market share. Bank of Queensland was the favourite commercial non-major lender among first time buyers, processing 6.0% of the loans.
Bankwest, ANZ, the Commonwealth Bank of Australia, the Bank of South Australia, Bank of Melbourne, St George, Westpac, NAB Broker and NAB are all considered major lenders by AFG.
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ANZ beats CBA as major lenders' market share falls: AFG

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Low interest rates and ongoing population growth were continuing to support growth in both housing construction and the established housing market, the Reserve Bank of Australia (RBA) has noted.
The rising house prices are encouraging people to spend more money in retail.
"Growth in dwelling investment had remained strong and this was expected to continue in coming quarters, based on building approvals and other forward-looking indicators," according to the RBA November minutes.
But the central bank noted housing price growth had slowed from the rapid pace of late last year, "but was still high in Sydney and Melbourne".
"While growth in housing credit for owner-occupiers was only a little above that of income, credit extended to investors had continued to grow at a noticeably faster rate.
"Members noted that the strength in the housing market was expected to give some support to household consumption in the near term as rising housing valuations allowed some credit-constrained home owners to bring forward their consumption.
"The pick-up in retail sales in the September quarter and stronger growth in retail sales in those states with more rapid housing price growth was consistent with this view."
However, members also observed that expectations of low income growth would be likely to weigh somewhat on consumption, which was expected to continue growing at a moderate pace in the near term before strengthening over 2016.
"Very low interest rates continued to support activity in the housing market and this was expected to spur activity in other areas of the economy through the usual channels," the minutes noted.
Members noted that growth in housing credit extended to investors in housing had continued to grow at a noticeably faster rate than credit to owner-occupiers.
Their discussion came shortly before, for the first time in the 30-year history of the Australian Bureau of Statistics’ housing finance series, that the value of investor loan approvals in September, at $11.94 billion, was greater than the value of loans to owner-occupiers, at $11.77 billion.
The board members concluded their discussion of financial markets with the observation that Australian lending rates on the stock of outstanding housing and business loans were continuing to edge lower.
"The outlook for inflation had been revised up slightly in response to the depreciation of the exchange rate during October. 
"The cumulative effect of the exchange rate depreciation since early 2013 was expected to add a little under one half percentage point to underlying inflation in each year over the forecast period. 
"Nevertheless, domestic inflationary pressures were generally expected to remain subdued given spare capacity in labour and product markets. 
"As a result, underlying inflation was expected to remain consistent with the target over the forecast period."
The monetary policy committee of the RBA was attended by Glenn Stevens (Governor and Chair), Philip Lowe (Deputy Governor), John Akehurst, Roger Corbett AO, John Edwards, Kathryn Fagg, Martin Parkinson PSM (Secretary to the Treasury), Heather Ridout AO, and Catherine Tanna. Others attending were Guy Debelle (Assistant Governor, Financial Markets), Christopher Kent (Assistant Governor, Economic), Alexandra Heath (Head, Economic Analysis Department), Anthony Dickman (Secretary), Peter Stebbing (Deputy Secretary).
 
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Sydney and Melbourne housing price growth "still high": RBA November minutes

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The Insurance Council of Australia has warned householders to check their insurance policies before renting out part of their home to holidaymakers.
Website <a href="https://www.airbnb.com.au/" target="_blank">Airbnb </a>has become popular with property owners looking to cash in on short-term holiday rentals.
Airbnb, which was founded in 2008, has reportedly raised around $800 million from investors, including almost $500 million in April from TPG, T Rowe Price and Dragoneer Investment Group. <a href="https://www.propertyobserver.com.au/https://www.cnbc.com/id/102117120" target="_blank">Its value is estimated</a> at between $10 billion and $13 billion.
However, there has been heated debate internationally over the legality of short-term rentals through the site.
New York State Attorney General Eric T. Schneiderman found that 72% of units for rent in New York through Airbnb <a href="https://www.ag.ny.gov/pdfs/Airbnb%20report.pdf" target="_blank">appeared to be breaking local laws</a> which prevent rental terms of less than 30 days in most apartment buildings and require tax to be paid on hotel-style accommodation.
In Australia, short-term holiday letting is covered by fair trading and consumer laws. Local councils and strata agreements may also place restrictions on holiday letting. Subletting by tenants is permitted only if the landlord consents.
Home owners, tenants and holidaymakers also need to check that insurance policies cover online peer-to-peer house sharing services, ICA chief executive Rob Whelan said.
“It is essential that home owners or tenants who consider using online house-sharing services discuss this with their insurer beforehand, and check how this could impact their home and contents insurance, strata or renter’s insurance policies,” Whelan said.
“Anyone thinking about renting a room or part of their home should know that they might not be covered for property damage and other losses that could happen as a result of renting it out to holidaymakers. Importantly, they may not be covered for public liability should a paying guest be injured on the premises.”
Whelan said many insurers regarded online holiday rentals as a business activity so standard home and contents policies may not apply.
Special insurance policies are available for landlords of short-term rental properties and holiday homes. These are typically separate policies from standard landlord insurance cover.
Travel insurance policies often did not cover cancellation, or loss and damage of possessions in the rental properties and guarantees provided by some peer-to-peer accommodation providers did not cover items such as cash, or pets or personal liability in shared areas, Whelan said.
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zfielding-GvX3Uq9KTa

Short-term holiday rentals warned to check insurance policies

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A surge in tax depreciation schedules requested in a number of regional areas has been noted by tax depreciation company BMT’s managing director Brad Beer.
Beer said that rural and regional locations appear to have attracted strong investment activity over the past financial year.
But where have they been targeting?
<ul>
<li>Port Pirie<a href="/news"></a>, South Australia</li>
</ul>
Topping the list is Port Pirie, where a 169% increase in the number of tax depreciation scheduled was recorded.
<ul>
<li>Riverland, South Australia</li>
</ul>
The wine region recorded a 141% surge in requests for depreciation schedules.
<ul>
<li>New England, New South Wales</li>
</ul>
This area recorded an 89% uptick in schedules requested.
<ul>
<li>Logan City, Queensland</li>
</ul>
This city, a strong investor favourite, recorded a 66% increase, compared to greater Queensland’s 19% uptick.
<ul>
<li>Nowra, New South Wales</li>
</ul>
A 64% increases was achieved by this south coast area.
<ul>
<li>Oven region, Victoria</li>
</ul>
A 58% surge was noted for the Oven region.
<ul>
<li>North-east Tasmania</li>
</ul>
A 46% surge was seen in the north-east of Tasmania, despite greater Tasmania recording no increase.
Interestingly, these increases in individual regional ad rural areas strongly outpaced their respective state-wide averages. The activity growth in South Australia was at 20%, New South Wales saw a 23% surge and Victoria was up 19%.
Beer said that this may be due to the cheaper house prices and higher rental yields available in the rural and regional areas.
“With many capital cities experiencing considerable capital gains over the past few years, some investors appear to be seeking out alternate market segments in order to enter the market faster and at a lower price while still realising a solid return,” he said.
“These locations present a unique opportunity for investors willing to think outside the box and take advantage of regions able to still provide returns but at a much lower cost of entry.”
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The seven rural and regional areas on investors’ radars: BMT

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We've all marvelled at the amount of information on the internet and the speed with which we can compare available products.
Nowhere has this access to information been better exploited than in financial services, where you can use websites to make cheap share trades, find the best priced mortgage and get travel insurance that saves you heaps.
But although e-commerce is now normal, Australians still distinguish between low cost convenience transactions, and high value strategic decisions. For most people there's still a divide between the ease of technology and the need for advice.
But how do you decide whether to buy online or use a broker or adviser?
One criterion might be size and importance.
Australians can search for mortgages online and apply over the phone. However, the Mortgage and Finance Association of Australia has found that of the growth in the mortgage market in the year to June 2014, 61% was driven by brokers. That was a 32% increase on the 2013 figure. Clearly, Australians like interaction with an expert when they take on their biggest debt.
The opposite is the case when applying for credit cards and operating bank accounts. For these transactional interactions we're comfortable to use the internet and call centres to administer our daily banking.
Consumers also transact directly online with their super and their share portfolios. This seems to work best with users who have good knowledge of the options and understand the choices.
Insurance is another matter. If you've been insuring your car for years, a quick price comparison on the internet can prepare you for buying more insurance over the phone or online at renewal time.
However, many insurances are strategic parts of life planning, and they need expert advice.
Even simple insurance such as home and contents has to be managed so you're never underinsured, and you aren't paying for things you don't need and being excluded from the cover you do need.
More than half of retail insurance premiums are written by advisers and brokers, probably because Australians think about insurance once a year and they need someone who thinks about it every day.
The advantage you get with an adviser is obvious in life insurances which include death cover, total permanent disablement (TPD), trauma and income protection. You can buy tax-friendly life policies in your super fund. But when you use an independent adviser, you can buy cover for your circumstances, with tailored inclusions and exclusions.
Life insurance issuers rarely have more than one top product line and premium at a time, with deals changing to showcase different products. Some insurers are strong in some occupations. An independent adviser knows this. Luckily, it isn't a choice between the internet or advice. The trick is to use both, according to their strengths and your needs. What do you favour? Internet or advice? I'd love to hear what you think.
Mark Bouris is executive chairman of wealth management company <a href="https://www.ybr.com.au" target="_blank">Yellow Brick Road</a>, which sells financial advice and home loans.
You can contact Mark on <a href="https://www.twitter.com/markbouris">Twitter</a>.
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mbouris-tauSvXGAM2

Should you get your mortgage online or use a broker?

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Westpac Banking Corporation has announced its chief executive Gail Kelly was retiring from the bank after six years at the helm.
She will be succeeded by Australian financial services chief executive Brian Hartzer from February 1, 2015. Hartzer’s division included Westpac’s retail and business bank, St George Bank and BT Financial Group.
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Brian Hartzer, aged 47, has more than 25 years in financial services, having started his career at First Manhattan Consulting Group in New York.
In 1994, he first moved to Australia to work on a variety of strategic projects for ANZ, returning to San Francisco with First Manhattan in 1997, before moving back to Australia in 1999 to join ANZ full time as Managing Director of the Group's Consumer Finance Division, which included the Bank's credit card, merchant services and personal loan businesses.
Mrs Kelly was the first female chief executive of one of Australia’s big four banks.
“Gail is one of Australia’s most successful CEOs. She was appointed as the global financial crisis was unfolding and her leadership and dedication has seen Westpac emerge a stronger and better company,” Westpac chairman Lindsay Maxsted said.
</div>
</div>
</div>
“During her tenure the value of the company has more than doubled, with market capitalisation increasing from just under $50 billion to around $104 billion,” he said in a statement to the Australian stock exchange.
The two prime candidates who were in the running to replace Kelly were Brian Hartzer and the head of the institutional bank, Rob Whitfield.
Rumours started last month with Ross Greenwood's 2BG's Money News among those who sensed Kelly was soon to depart.
Last financial year she ranked as the highest-paid boss of a retail bank in Australia, taking home $12.8 million. 
Before joining Westpac in 2012, Brian Hartzer worked as chief executive of UK retail for the Royal Bank of Scotland as well as senior roles at ANZ.
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Brian Hartzer grew up in Connecticut, USA , but is an Australian citizen. 
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“I am very proud of how we tackled the stresses and challenges of the Global Financial Crisis, supporting our customers while at the same time materially strengthening our balance sheet," Gail Kelly said today.
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"I am also very pleased with our successful merger with St.George. 
"We now have a strong set of customer-centred brands, all performing well and setting us apart from our competitors. 
"Most of all, I am proud of our people and the way they support our customers, each other and the community, every day. 
“As our recent results show, the Westpac Group is very well positioned with strong momentum and a high quality team. 
"This is an excellent time to hand the reins to our next CEO, who will take the Group through to our bicentennial celebrations and beyond," Mrs Kelly said.
 
</div>
</div>
</div>
 
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