<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

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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An overwhelming majority of economists still expect the RBA to leave the cash rate unchanged at 3% on May 7, according to the latest Bloomberg survey.
Following <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/economy/inflation-up-lower-than-expected-04-in-march-quarter-with-rise-in-new-dwelling-purchases-noted/2013042460702?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">Wednesday's subdued March quarter inflation</a> reading, 20 out of 27 economists expect no change in the cash rate.
This compared with 24 out of 28 who tipped no rate cut a week ago.
All the major bank economists agree there will be no rate cut in May.
Expectations of a June rate cut are stronger with 13 out of 27 tipping a 25 basis point rate cut and one economist (Richard Gibb from Macquarie Group) tipping a cash rate setting of 2.5%. The remainder expect no change.
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lschlesinger-FZcF9M3vE6

Majority of economists still say no rate cut on May 7

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A-League soccer star Daniel McBreen of the Central Coast Mariners has revealed his ambition to become a successful mortgage broker with AFG once his soccer playing days are over.
McBreen scored the second half penalty goal that secured the Mariners their first A-League title in a hard fought 2-0 win over the Western Sydney Wanderers last weekend.
In an interview with MPA Magazine McBreen said his father had been a mortgage broker and the plan was always for him to take over from him one day. 
Sadly, his father’s passing last year brought forward his role in the business.
McBreen says football is his main priority currently but he spends afternoons and evenings working on mortgage broking-related business.
“Every spare moment I get away from football I try and put towards doing what I need to do to get this [business] up and running,” he told MPA Magazine.
“I’m hoping to play football for another couple of years and if that comes off I’d like the mortgage side of the business to be up and running – and to be in a position where, when I do finish playing football, I can move seamlessly into full-time [broking] work and have the work there to keep me going on strong."
McBreen is not the only sports star to try their hand at mortgage broking through AFG.
Former Richmond Tigers ruckman Troy Simmonds operated mortgage broking business Harbour Finance, aggregating through AFG, for four years towards the end of his football career.
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Soccer star Daniel McBreen shoots for AFG mortgage success after grand final glory

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Armed with cheap funding from Macquarie Bank and the ability to market his Yellow Brick Road franchise brand on prime time Celebrity Apprentice television, Mark Bouris is taking on the major banks with a mortgage discount offer that claims to undercut their best offerings.
A week before the third season of Celebrity Apprentice begins on Channel Nine, Yellow Brick Road has unveiled its offering of a 1.25% discount for all borrowers who take out its variable rate<a href="https://www.ybr.com.au/homeloans/empowerrangeofhomeloans/index.cfm" target="_blank"> Empower Home Loan</a> for the first year of the loan.
<img alt="bourisapril24one" height="183" width="470" src="/images/stories/2013/04/bourisapril24one.jpg">
Afterwards the introductory 12 month rate of 5.15%, the loan reverts to a lower lifetime discount rate of between 0.86 percentage points and 0.91 percentage points off the standard variable rate, currently at 6.40%.
The loan has no application fee, with Yellow Brick Road pointing out that the discounted rate is offered “across the board” not just to those borrowers who meet minimum loan size requirements as is required by the major banks to be eligible for the best variable rate offering.
In an ASX press release issued to announce the discounted offer, Yellow Brick Road includes a table comparing its 5.15% introductory offer with the best discount rates offered through home loan packages from ANZ (5.7%), Westpac (5.61%), St.George (5.59%), Commonwealth Bank (5.60%) and NAB (5.58%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/bourischartapril24one.gif"><img src="/images/stories/2013/04/bourischartapril24onethumb.gif"></a>
The Empower Home Loan product is entirely funded by Macquarie Bank following last November’s wholesale funding agreement.
Macquarie Bank also has an 8.3% stake in Yellow Brick Road and is key player in Bouris’s ambition to make Yellow Brick Road a significant competitor to the dominance of the big four banks in the mortgage market.
Channel Nine also has an interest in the success of the mortgage product with its Nine Ventures consumer investment group holding an 18% stake in Yellow Brick Road.
The most recent full year annual accounts show that Yellow Brick Road paid Channel Nine $2.65 million last year to sponsor The Apprentice television series for three years.
So expect to see plenty of Yellow Brick Road branding and merchandising every Tuesday and Wednesday night for an hour and half over the next five weeks or so and no doubt plenty of promotion of the discount mortgage offer.
This latest discount offer is an improvement on its earlier 1.15% discount offer launched in November last year under the slogan: “Smash your home loan” following the funding agreement with Macquarie Bank.
Bouris, the hirer and firer on Celebrity Apprentice, has made no secret of his desire to take on the major banks and become a true fifth pillar competitor andbe revelling in his role of both mortgage and media “wizard” – harking back to the late 1990s and early 2000s when Wizard Home Loans and John Symond’s Aussie Home Loans took on the major banks.
Bouris has ramped up the anti-bank rhetoric since signing the <a href="/news">funding agreement with Macquarie in November last year</a>.
“Yellow Brick Road is focused on taking market share from the incumbents,” reads the ASX press release.
In its annual results, Bouris and Yellow Brick Road chief executive Matt Lawler write:
“Overall the business has positioned itself as a competitor and challenger to the major banks. This position is now regularly being recognised and acknowledged by politicians, investment researchers and media commentators nationally.”
Earlier this month, Bouris told Fairfax Media he needed to settle around $350 million worth of new loans a month - around 5% of the value of mortgages banks sell through their branches – to force banks to adjust how they price their home loans.
Bouris said he was confident of doubling Yellow Brick Road’s mortgage book as it did in 2012.
While Yellow Brick Road remains a minnow mortgage lender compared to the gargantuan-sized mortgage books of the major banks, it is growing at rapid pace.
In January it reported a record month with loan settlements up 106% on January 2012 and 43% higher than its previous best month amid a “groundswell of consumer demand”.
It’s most recent full year results for the 12 months to December 31 show the Yellow Brick Road mortgage book grew by 114% to $1.26 billion compared with $590 million in the previous full-year period.
Franchise branches grew from 91 to 149 over this period while representatives licensed to provide credit and/or personal financial advice increased from 80 to 126.
Season three of Celebrity Apprentice, will begin on April 30 featuring among its contestants Olympic swimming legend Dawn Fraser, boxing champ Jeff Fenech, rocker Brian Mannix and AFL's Dermott Brereton – all of whom will be seen in Yellow Brick Road merchandise at various points in the reality game show.
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Big Banks, you’re fired: Mark Bouris ties Celebrity Apprentice launch with YBR mortgage discount offer

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The lowest advertised mortgage offering -fixed or variable - is a one-year fixed rate package home loan of 4.79% offered by non-bank lender Quick Direct, according to mortgage comparison websites.
The rate is 30 basis points below the lowest big four one-year fixed rate offering – NAB one-year fixed rate of 5.09% available under its package home loan offerings.
All Quick Direct package home loans require a 10% deposit.
Borrowers looking to refinance with a major bank brand can secure a one-year fixed rate home loan with UBank – NAB’s online brand – of 4.83%.
Quick Direct is a subsidiary of Sydney-based BMC Mortgage Corporation.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of April 22:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Blackboard Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.01%
</td>
</tr>
<tr>
<td valign="top" width="134">
State Custodians
</td>
<td valign="top" width="124">
State Custodians Peak Performance Offset (Refinance Only)
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.38%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Dream Loan Express Variable
</td>
<td valign="top" width="97">
5.09%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
Quick Direct
</td>
<td valign="top" width="123">
One year fixed
</td>
<td valign="top" width="95">
4.79%
</td>
<td valign="top" width="114">
5.46%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHomeLoan for refinance fixed rate
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
Loans.com.au
</td>
<td valign="top" width="123">
Dream loan express fixed
</td>
<td valign="top" width="95">
4.89%
</td>
<td valign="top" width="114">
5.28%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
ME Bank
</td>
<td valign="top" width="131">
Member Package SMHL Standard Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.49%
</td>
</tr>
<tr>
<td valign="top" width="131">
Teachers Mutual Bank
</td>
<td valign="top" width="131">
Teachers Fixed Option Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="131">
ING Direct
</td>
<td valign="top" width="131">
Residential Fixed
</td>
<td valign="top" width="96">
5.09%
</td>
<td valign="top" width="111">
5.60%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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From Quick Direct’s 4.79%: the lowest fixed and variable home loan offerings

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The large variance between economists' forecasts for the cash rate between now and the end of 2014 may create a conundrum for borrowers trying to decide between fixing their home loan or going with a variable rate product, given the current cheap fixed-rate offerings in the market place.
Over the remainder of 2013, the median forecast is for the cash rate to fall to 2.75%, according to the latest Bloomberg survey of bank and financial institution economists.
However, forecasts vary from HSBC’s Paul Bloxham’s expectation that the cash rate could rise by 25 basis points to 3.25% to Macquarie’s Richard Gibbs, who expects the cash rate could fall 100 basis points to 2% over the course of the year.
Just nine economists expect a cash rate at the median of 2.75%, including Westpac’s Bill Evans and economists from JP Morgan and Citi.
A greater number, 10 economists, expect no change over 2013 and the cash rate remaining at 3%, including the Commonwealth Bank’s Michael Blythe and AMP Capital’s Shane Oliver.
Seven economists foresee two more rate cuts this year (2.5%), including ANZ’s Warren Hogan.
Looking beyond 2013, and the lack of consensus is even greater with forecasts varying from a cash rate of 2.5% (ANZ Bank and FIIG Securities) to as high as 4.25% (Laminar Capital) by the end of 2014.
The median forecast is for a cash rate of 3.25% by the end of 2014, but with only three replies at the median.
The major banks have different expectations for the cash rate by the end of 2014, though tellingly none of them expect a cash rate higher than 3%.
The Commonwealth Bank currently expects no change in the cash rate between now and the end of 2014.
NAB also has a cash rate setting of 3% by the end of 2014.
Westpac expects a cash rate of 2.75% by the end of 2014.
ANZ expects a cash rate of 2.5% by the end of 2014.
March quarter inflation data out on Wednesday (April 24) is expected to be well within the RBA’s target band of between 2% and 3%, allowing scope for further rate cuts if needed.
According to same Bloomberg survey, the median forecast is for an inflation reading of 2.4% on both trimmed mean and weighted mean measures.
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Possibly one more rate cut in 2013 but lack of consensus the overriding theme: Bloomberg survey

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NAB has from today cut its five-year fixed-rate home loan by 29 basis points to 5.55% under its package home loan offering.
This is its lowest the bank’s five-year fixed-rate home loan has been in 20 years.
NAB offers package home loan borrowers a discounted variable rate of 5.53% if they borrow $500,000 or more.
Borrowers who take out a five-year fixed-rate will be punting on interest rates rising over the next five years.
NAB chief economist Alan Oster expects to further rate cuts this year, taking the cash rate to 2.5%.
Were the bank to pass on around 40 out of these expected 50 basis points, variable rate borrowers could see their interest rate fall to as low as 5.1%.
However, over 2014, NAB expects the cash rate to rise back to 3%, though some lenders expect it could rise as high as 4%.
<ul>
<li>The Commonwealth Bank offers a five-year fixed rate home loan at 5.69% under its package offering</li>
<li>Westpac is at 5.79% under its package home loan offering</li>
<li>ANZ is at 5.84% under its package home loan offering</li>
</ul>
Three-year fixed-rate home loans remain by far the most popular fixed-rate product among borrowers, with five-year fixed-rate home loans a marginal product.
According to mortgage comparison website homeloanfinder.com.au, three-year fixed-rate home loans currently account for two-thirds of all fixed-rate product choices with five-year fixed-rate home loans second most popular, <a href="https://www.propertyobserver.com.au/news/monday-feb-25-feature-the-fix-is-on-for-bank-mortgage-rates-should-you-take-the-deal/2013022159504" target="_blank">accounting for a fifth of fixed-rate products selected currently</a>.
Adrian Barclay, personal finance expert from HomeLoanFinder.com.au, wrote recently on Property Observer, that choosing between a three-year and five-year fixed rate home loan was an “important decision” especially considering that an average home changes hands every seven years.
“So, if you lock in a five-year fixed home loan three years into your home ownership, on average, you may sell it before. This can be an extremely costly way to handle home ownership,” Barclay says.
Costs can rise to thousands of dollars if you sell your house within the five-year fixed period while obtaining financing for renovations can also be harder than for borrowers who have a variable construction loan or line of credit home loan.
In 1993 borrowers who fixed for five-years with NAB would have done very well.
The cash rate fell to 4.75% in December 1993 but then rose to a high of 7.5% between December 1994 and July 1996.
It only fell back to 4.75% in December 1998.
NAB will be looking to cash in on the growing appetite among borrowers for fixed-rate home loans with Mortgage Choice reporting that more than a quarter of home loans (26%) were fixed in March, up from 20.6% in February and well above the 12-month average of 17.7%.
Demand for fixed-rate home loan is particularly high in Queensland where more than a third fixed their home loan in March, according to Mortgage Choice figures.
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NAB cuts five-year fixed-rate home loan to 20-year low of 5.55%

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Economist David Bassanese says the Reserve Bank of Australia will cut interest rates again despite effects from rate cuts being already seen.
The Australian Financial Review columnist says rising unemployment from the mining and manufacturing industries will force the RBA to lower rates again by the end of the year.
“It’s true that asset prices especially are responding to lower interest rates, but whether this will be enough to contain unemployment in the face of the looming mining sector downturn and extreme pain from the high exchange rate remains to be seen,” Bassanese wrote today.
He says the rate cuts are having an effect on the interest-rate sensitive sectors of the economy including a moderate lift in housing demand.
Auction clearance rates lifted to their highest level since mid-2010
“As I’ve argued since last year, rising established house prices are exactly what we should be expecting at this stage. After all, measures of home mortgage affordability are below long-run average levels,” he wrote.
“My call has been that a 10% to 15% pop higher in nationwide house prices is possible by early 2014.”
He said with non-mining sector parts of the economy picking up house price growth will be more pronounced in Sydney and Melbourne.
This will lead to increased confidence and spending despite sluggish employment growth.
And retail spending has been strong so far this year while consumer sentiment remains above long-run average levels.
“So far so good, but serious questions remain over the smoothness of the transition in economic growth from the mining investment boom to non-mining domestic spending,” he wrote.
“In terms of the housing sector, for example, the upturn in home building demand remains reasonably modest and is not yet destined to provide major growth offset from the downturn in mining investment.
“Meanwhile, sectors sensitive to the exchange rate, such as manufacturing and even mining, are also feeling the pinch, with the $A remaining at relatively high levels.”
Holden has announced massive job cuts while Woodside is scaling back LNG operations.
He says the decline in business conditions have been led by the mining sector and there is extreme weakness in manufacturing.
“The labour market reflects this sectoral tug of war. The number of job advertisements measured by ANZ Bank fell in March after two promising monthly gains, while the nation’s unemployment rate ticked up to 5.6%.”
“My call is that unemployment will reach 6% by year end, which should be enough to goad the RBA into cutting interest rates again.”
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awalsh-7Ub9EypybQ

Unemployment will force the RBA to cut rates again while house prices set to rise 10%: David Bassanese

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Macquarie Group has taken a 19.84% stake in the listed mortgages company Homeloans Ltd.
It paid $20.1 million for the Homeloans stake in an off-market transfer last Friday, according to substantial notices lodged Tuesday.
The trade was done at 95¢ a share, or a 20¢ a share premium to Homeloans closing price. Homeloans shares were up 6¢ to 81¢ when trading resumed Tuesday.
Macquarie bought the stake off Challenger Group who ceased being a major shareholder. 
It listed on the Australian Stock Exchange in 2001.
Homeloans specialises in home loans with a wide range of products to meet the needs of customers from first home buyers to investors.
Macquarie's move into Homeloans, which was founded in 1985, comes as Macquarie seeks to boost its mortgages business which includes equity in Yellow Brick Road.  It took an 8.3% in Mark Bouris’s mortgage broker, Yellow Brick Road, last December.
<a href="https://www.propertyobserver.com.au/mortgages/macquarie-bank-doubles-loans-to-investors-in-first-nine-months-of-2012-apra-figures" target="_blank">Macquarie has been growing its residential home loan book sizably over recent times</a>.
Homeloans was founded by Perth entrepreneurs, the current chairman Tim Holmes and director Rob Salmon, who each own a 12% stake.
They are reportedly reluctant to sell, according to the Australian Financial Review who speculate Macquarie was likely to launch a full takeover bid for Homeloans.
NAB’s mortgage aggregator, Advantage, owns a significant 17% stake in Homeloans, after it bought the holding from Challenger in 2009.
</body></html>

jchancellor-FAypfDUnLy

Macquarie takes Homeloans stake

<html><body>
RBA board members noted at their April meeting that Australia's housing markets continued to improve.
Its April meeting minutes noted house prices increased again over March, to be 4¼ per cent above their mid-2012 trough.
The board also noted that auction clearance rates had moved higher and there were signs of somewhat stronger growth in housing loan approvals.
The Bank's liaison with home builders suggested that demand for new housing had been a little more positive of late, with a rise in activity reported in most capital cities.
"Over the past few months, housing loan approvals had picked up for both owner-occupiers and investors, and stronger conditions in the established housing market more generally were expected to support moderate growth of dwelling investment this year," the minutes said.
"Overall, recent data suggested that interest-sensitive parts of the economy were responding to the historically low levels of lending rates and it remained likely that this had further to run.
"At the same time, the factors weighing on the economy – including the high exchange rate, the waning growth of mining investment, and fiscal consolidation – were likely to persist.
"The key issues were what the balance of these factors would turn out to be.
"With growth forecast to be a little below trend in 2013, and inflation close to target, members judged that it was appropriate for the stance of policy to be accommodative.
"The outlook for inflation, as currently assessed, would provide scope for further easing should that be necessary to support demand.
"At this meeting, the board's judgement remained that, on the information currently to hand, the most prudent course was to hold rates steady and to continue to assess developments over the period ahead."
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.rba.gov.au/monetary-policy/rba-board-minutes/2013/02042013">The board decided to leave the cash rate unchanged at 3%</a>.
Members were also updated on the funding composition of Australian banks, with deposits rising further as a share of total funding, despite being more expensive than comparable wholesale funding sources.
"Average interest rates on outstanding housing and business loans had been largely unchanged since the end of February.
"In the money market, current pricing implied a very small expectation of an easing in monetary policy at the current meeting, and less than one 25 basis point easing priced in by the end of the year," the minutes noted.
 
 
</body></html>

Australia's housing market - including new homes - show positive signs: RBA April meeting minutes

<html><body>
Mortgage market activity picked up across the country in April led by NSW, the latest RP Data figures show.
There was also a strong pick-up in activity in Queensland, WA, Victoria and Tasmania.
The figures are a lead indicator of official housing finance data, coming out around six weeks ahead of ABS figures.
<img alt="rpdatamortgagesapril15one" src="/images/stories/2013/04/rpdatamortgagesapril15one.gif" width="470" height="239">
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/04/rpdatamortgagesapril15two.gif" rel="shadowbox"><img src="/images/stories/2013/04/rpdatamortgagesapril15twothumb.gif"></a>
RP Data systems monitor more than 100,000 mortgage activity events every month across four main finance industry platforms.
The index shows an 81% correlation with the ABS housing finance data series (88% using the seasonally adjusted series).
</body></html>

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