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

Joel Robinson

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

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

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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

<html><body>
Mortgage broker AFG processed 10,463 loans last month - the highest in its 21-year history - but overall first home buyer loans fell to 7.2%.
In New South Wales, the figure was a woeful 2.2%.
“First home buyer loans have fallen to unprecedented lows in places like NSW,” said AFG’s general manager of sales and operations Mark Hewitt.
“If this continues we are going to end up with a whole generation of renters.”
The October mortgages processed by AFG brokers for first home buyers fell from its previous September record low of 8.4% of all home loans to 7.2% nationally.
The first home buyer loans have declined each month since June this year when they represented 10.8% of all home loans processed.  New South Wales was followed by Queensland (4.7%), South Australia (7.3%), Victoria (8.3%) and Western Australia (17.9%).
AFG calculated that excluding WA from the equation, the average level of first home buying on the eastern seaboard would be around 5% - about a third of the long-term average.
Nationally, investor home loans represent 38.7% of all mortgages processed, down from a peak of 40.3% recorded last month.
Hewitt noted October had traditionally been one of the strongest months for property with an increase in owner occupier loans. 
</body></html>

jchancellor-FAypfDUnLy

NSW first home buyer numbers dip to 2.2%: AFG

<html><body>
Home loan providers continue to cut interest rates in a bid to grab further market share.
According to Michelle Hutchison, head of PR and money expert at comparison website <a href="https://www.finder.com.au/" target="_blank">Finder</a>, loans.com.au currently offers the lowest variable rate in Australia, which is now at 4.54%.
"The war between home loan lenders has been taken up a notch, with loans.com.au fighting back, following UBank's move to cut its variable rate home loan," said Hutchison.
"loans.com.au today reduced its Dream Home Loan Variable Blackboard Special Rate, by 0.06 percentage points to remain the lowest in Australia," she explained.
"This follows UBank announcing its move to lower its UHomeLoan to 4.54% effective today, which was previously the lowest rate held by loans.com.au."
Other smaller lenders have done the same following the Reserve Bank's announcement that the overnight cash rate will remain at 2.5% for another month.
Firstmac has dropped the rate for its VIP Package Product to by five basis points to 4.69%, also waiving a $295 annual fee. The interest rate on Advantedge's white label loan product for loans over $500,000 is now reportedly 4.63%, with a maximum 80% loan to value ratio.
St George has cut its three year fixed rate package by 10 basis points – with an Advantage Package Discount, the rate is now at 4.79%.
The major banks appear to have kept their interest rates on hold following Tuesday's announcement, with ANZ yesterday confirming that it will not cut its rates this month. Its standard variable home loan rate remains at 5.88%.
</body></html>

jrichardson-uRX5hFdKfN

Small lenders cut rates as RBA stands still

<html><body>
The Reserve Banks’s (RBA) decision to keep interest rates on hold earlier this week came as no great surprise.
Of the 33 economists <a href="/expert-insights/finance/rates-tipped-to-start-rising-in-2015-but-how-long-will-the-cycle-continue">surveyed by Finder</a> prior to the meeting, 91% expect rises in 2015, while two tipped 2016 as the earliest date for an increase.
But the lack of interest rate movement, the Bank has now left interest rates on hold for 16 consecutive months, has one property expert scratching his head.
Buyer’s agent and founder of Dream Design Property, Zaki Ameer, says that the RBA’s usual reaction to increasing house prices and unemployment is to raise interest rates.
“However, interest rates have remained unchanged for two years now, and in my opinion, that's because there is still some local uncertainty within our economy, which may be caused by local involvement in international terrorism,” Ameer said.
Ameer said that due to unrest in the Middle East and Ukraine, the RBA is unsure whether they should raise interest rates since, he believes, they are uncertain what is driving current economic conditions.
Eventually, it could be a global event that forces the RBA to act, Ameer told Property Observer.
Despite the continual presence of ominous global threats, Ameer believes that low interest rates are creating a fantastic environment in which to invest.
“Aside from the obvious benefits, which is low interest repayments for those who have fixed, what many people do not realise is that when the Reserve Bank does increase its interest rates, rent prices usually increase too, and this then creates more cash flow for investors,” he said.
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Global events may be shaping RBA's interest rate decisions: Buyer's agent

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Yesterday, the Reserve Bank of Australia (RBA) decided to keep interest rates at a record low 2.5% for the 16th consecutive month.
This is the longest time interest rates have remained on hold since 1996 when there was a 19-month period of stability.
The official cash rate has fallen 225 basis points since November 2011, with the RBA cutting interest rates twice in 2013, in May and August.
The steady period of interest rates seems set to continue; CommSec expects interest rates to remain stable until the second half of 2015.
Overall the RBA’s decision has left home loan customers happy. The RateCity database shows that over 1,000 home loans have had rates cut out-of-cycle since July.
But despite record low interest rates helping boost the new home building sector, more needs to be done to ensure demand is met, argues Housing Industry Association’s (HIA) chief economist, Harley Dale.
“Super low interest rates have unleashed substantial pent-up demand for new housing to the benefit of many parts of Australia’s domestic economy beyond residential construction,” said Dale.
“There is a lack of titled residential land, excessive planning delays and restrictions, and a plethora of taxes and charges which combine to make new housing one of the most heavily taxed sectors of the Australian economy.” 
This is a problem which cannot be solved solely through through keeping interest rates low, warns Dale. 
“A lack of policy action... robs the Australian economy of a further burst of growth in new housing supply,” he said.
The RBA will next meet on Tuesday, 2 December 2014. 
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Low interest rates a good start, but not enough to meet new housing demand: HIA

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Hi Margaret,
Is stamp duty payable on a transfer of real estate from father to sibling or vice versa?
Please help. What would be the best way to do this transfer?
Regards,
Neville
Margaret's answer is on the next page. Please click below.
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Hi Neville,
The answer to depends upon which state you live in.
For example, if you live in NSW and the property is located there, then the stamp duty which would apply will be the same amount that you would pay were you to buy the property.  This means that the property must be valued by a duly qualified person and then stamp duty is assessed on the basis of this valuation. 
You will also have the costs of a solicitor or conveyancer, who must still have the property conveyed to you and so will charge you for that in a similar way to how you would be charged if it were a purchase.
Where property is transferred between family members, it's theoretically possible to transfer property using a 'transfer' form and without going to the expense of having a full contract for sale prepared, with appropriate disclosure documents such as title searches and council zoning certificates. You may prefer to use the usual contract for sale however, as this will protect all parties to a greater degree.
In some states there may be an exemption for transfer between family members, although this usually applies only to spousal transfers.  Depending on the nature of the real estate some exemptions may apply - property used for primary production (family farm) may be exempt and other real estate might have some exemptions depending upon the circumstances around the transfer.
Also be aware that, depending upon the nature of the property for your father (for example if it was his investment property), there may be capital gains tax to be paid.
I find the offices of state revenue in each state are very helpful, so you should give them a call and discuss your personal circumstances.
Kind regards,
Margaret
Have a property question?   <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Do I need to pay stamp duty if I transfer a property to a family member? Ask Margaret

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Today’s Reserve Bank meeting, on Melbourne Cup day, revealed no surprises as the Bank opted to keep rates at a record low 2.5%.
With rates on hold, the question on everyone’s lips now is ‘for how long?’
RP Data’s research director Tim Lawless said that the Reserve Bank is more concerned with the level of investment in housing, rather than the pace of capital gains.
“In fact, the rolling annual change in capital city dwelling values has been moderating since April this year, suggesting that some heat is coming out of the market,” he said.
“Rather than pushing interest rates higher, which would have a detrimental effect on many aspects of the economy, it is looking more likely that APRA and the RBA will aim to cool investor demand by tweaking the risk appetite for bank lending to investors.”
He’s expecting that interest rates will track low until “well into 2015” and that dwelling values will continue to increase.
However, he did not that each city is showing different trends. Notably, Perth and Canberra are “already well through the peak of their cycles,” according to Lawless.
ME Bank's general manager markets John Caelli was also expecting rates to remain on hold.
“With inflation still well behaved and the dollar still higher than the RBA would like, the Bank can afford to wait until there is more clarity on global movements and developments in China,” he said. “The next cash rate change will likely be upwards and occur in the second quarter of 2015.”
LJ Hooker chief executive offer, Grant Herrod, however thought that the stable rates today will cause encouraged sellers to list their properties before the inevitable Christmas slowdown.
“Spring brings with it a seasonal lift in listings, but that lift was a bit delayed this year,” Harrod said.
He said people wanted to buy their new property before listing their old one because of competition.
“The increase in stock levels we’ve seen over the past month combined with the continued historic low cash-rate should motivate those who have been sitting back waiting to take action over the next two to three weeks,” Harrod said.
Finder.com.au’s money expert, Michelle Hutchison, said that borrowers with a variable rate home loan are now celebrating the cash rate pause as they won’t be paying more before Christmas. If a change is made next month, which is unexpected, it won’t filter through until January.
"All 33 experts in Australia’s biggest Reserve Bank Survey by finder.com.au bet the cash rate would hold today, with an average of all forecasts suggesting a rate rise in August 2015,” Hutchison said.
“The odds were stacked against mortgage holders today, with cash rate changes announced on six of the past 10 Melbourne Cup day Reserve Bank meetings.”
She said that interest rates look set to rise “soon” but that fixed home loans at good rates are available.
“For instance, we have seen 58 fixed home loans from six lenders fall in the past month alone, by as much as 0.61%. The average three-year fixed rate – which is the most popular fixed term – has dropped slightly from 5.04% at the start of October to 5.00% now. One-year fixed rates have also fallen from 4.85% to 4.81% in the same period,” she said.
Photo courtesy of Newtown grafitti/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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RBA keeps rates on hold, but for how long?

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RBA Governor Glenn Stevens' November statement:
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy is continuing at a moderate pace. China's growth has generally been in line with policymakers' objectives, though weakening property markets there present a challenge in the near term. Commodity prices in historical terms remain high, but some of those important to Australia have declined further in recent months.
Volatility in some financial markets has picked up over the past couple of months. Overall, however, financial conditions remain very accommodative. Long-term interest rates and risk spreads remain very low. Markets still appear to be attaching a low probability to any rise in global interest rates or other adverse event over the period ahead.
In Australia, most data are consistent with moderate growth in the economy. Resources sector investment spending is starting to decline significantly, while some other areas of private demand are seeing expansion, at varying rates. Public spending is scheduled to be subdued. Overall, the Bank still expects growth to be a little below trend for the next several quarters.
Recent data on prices confirmed that inflation is running between 2 and 3 per cent, as expected, and this is likely to continue. Although some forward indicators of employment have been firming this year, the labour market has a degree of spare capacity and it will probably be some time yet before unemployment declines consistently. Hence, growth in wages is expected to remain relatively modest over the period ahead, which should keep inflation consistent with the target even with lower levels of the exchange rate.
Monetary policy remains accommodative. Interest rates are very low and have continued to edge lower over the past year or so as competition to lend has increased. Investors continue to look for higher returns in response to low rates on safe instruments. Credit growth is moderate overall, but with a further pick-up in recent months in lending to investors in housing assets. Dwelling prices have continued to rise.
The exchange rate has traded at lower levels recently, in large part reflecting the strengthening US dollar. But the Australian dollar remains above most estimates of its fundamental value, particularly given the further declines in key commodity prices in recent months. It is offering less assistance than would normally be expected in achieving balanced growth in the economy.
Looking ahead, continued accommodative monetary policy should provide support to demand and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years.
In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.
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Dwelling prices continue to climb: Governor Glenn Stevens' November statement

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Paul Bloxham, the chief economist, Australia and New Zealand at the HSBC Bank Australia Limited, sees three key issues for the RBA.
<ul>
<li>Low rates are supporting a house price and construction boom, but could also risk inflating a housing bubble</li>
<li>The prudential regulator has already been working to tighten lending standards and the RBA has been ‘jawboning’ to temper conditions in the housing market</li>
<li>Tighter lending standards or so-called ‘macro-prudential’ tools could see the RBA willing to leave rates low for longer</li>
</ul>
Bloxham argues that after a long period in which Australia was building mines and too few houses, there was now a strong pipeline of housing construction. But he suggests these forces are "slowly" permeating the rest of the economy, with broader business conditions lifting modestly.
"Overall demand has been sufficient to keep inflation at around its target (the CPI print showed underlying inflation at 2.6% year on year in Q3) and to see the unemployment rate showing signs of stabilising.
"As yet, though, demand has not been strong enough to lift inflation or to drive the unemployment rate lower, which would be needed to see the RBA start to lift rates back towards neutral.
"But low interest rates also carry some costs.
"The longer interest rates stay at very low levels, the greater the chance that some asset prices could become misaligned with fundamentals.
"This is clearest in the housing market.
"Although national housing price growth of 10% a year should not be unexpected for now, persistent double-digit growth would be a worry and 15% annual price growth in Sydney is already concerning."
<img src="/images/2014/11/04/rba-nov-4-one.jpg" alt="">
Source: HSBC Global Research
He says the so-called ‘macro-prudential’ tools, to try to further manage the housing boom, would be incremental, rather than revolutionary, and more akin to adjustments to current prudential tools than a ‘macro-prudential’ overhaul. 
Trends in the Sydney property market were particularly concerning, according to Bloxham noting housing prices continuing to rise at around 15% over the past year.
"A key part of the concern is that the pick-up in housing prices is being increasingly driven by investors.
"Investors account for an increasing share of housing loan approvals and are particularly prominent in the Sydney market, where the investor share of loans is at a new record high of 44%.
"Although the RBA does not seem concerned about the riskiness of investor borrowing per se, they are concerned that the rise in investor interest is a signal that a speculative element has started to drive the housing market.
"The RBA still sees the risks to financial stability from current trends as low, given that investors tend to be higher-income households with larger mortgage deposits.
"But increased investor involvement could lead to a larger rise in housing prices, which could see a bigger fall some time down the track, exacerbating the economic cycle."
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Sydney property investors the key to the three big issues for the RBA: Paul Bloxham

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While every expert surveyed by Finder this month predicted interest rates would stay on hold this month, many are expecting to see rates rise next year.
Of the 33 respondents, 30 think interest rates will begin to increase in 2015, with just one – <a href="/expert-insights/finance/domain-groups-andrew-wilson-predicts-rba-will-cut-rates-further">Andrew Wilson of Domain Group</a> – predicting the next move will be a decrease.
A third of the experts surveyed predict interest rates will peak at 4-4.25% within the next three years.
The overnight cash rate was last at 4.25% in April 2012, after dropping from 4.5% in November 2011.
When rates first dropped, NAB offered its standard variable lending rate at 7.47%, while Westpac and ANZ both cut their standard rate to 7.55%.
Currently, ANZ offers its standard variable loan at 5.88%, with a comparison rate of 5.98%. For a $500,000 loan, a borrower is likely to pay $4,025 per month, with $272,685 interest payable.
If the rate was bumped back up to 7.55%, monthly repayments would likely increase by $469 per month to $4,494, with total $362,770 interest payable.
Finder's Michelle Hutchison says if the cash rate hits 4%, borrowers with a $300,000 loan will need "a buffer of at least $300 per month".
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How would a 4.25% interest rate impact you?

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Interest rates remain at record lows and borrowers are increasingly opting for fixed rates.
Fixed rate loans now account for 26.64% of all loans written in October, compared to 25.45% in September and an eight month high, according to the national home loan approval data from Mortgage Choice
Mortgage Choice Spokesperson Jessica Darnbrough said that it’s unlikely we’ll see any more cuts to the official cash rate and as a result borrowers are keen to fix.
“No doubt borrowers’ appetite for fixed rate loans has also been provoked by the ongoing competition for business among Australia’s lenders who continue to offer sharp pricing, significant mortgage discounts and other borrower incentives,” Darnbrough said.
“It is pleasing to see that borrowers are taking advantage of the current home loan market by actively responding to lender incentives and making informed home loan choices.”
In the ACT and New South Wales, demand for fixed rates is at 31.54%, closely followed by Queensland at 31.25%. South Australia and the Northern Territory recorded fixed rate demand at 23.44%. Victoria and Tasmania at 19.34% and Western Australia at 16.14% were the least likely to opt for fixed loans.
Variable rates, of course, remain the most popular.
“Regardless of whether borrowers choose a fixed or variable rate mortgage, they will be sure to secure themselves a sharp deal,” Darnbrough said.
“With record low interest rates and ongoing lender competition, the prospects of getting a great deal on your home loan couldn’t be better.”
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