<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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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As lenders continue to cut fixed-rates, demand for this mortgage type rose to a six-month high, according to October mortgage approval figures from Mortgage Choice.
Over the month, 22% of all new home loans taken out by new borrowers via a Mortgage Choice broker were for fixed rates, just above the 12-month average of 21%.
The most recent lender to cut its fixed-rate mortgages was Credit Union Australia (CUA), the nation’s biggest customer-owned lender, which dropped its one, two and three-year fixed rate home loans to 5.3% this week, following moves by other lenders throughout the month.
Currently, <a target="_blank" href="/news">three lenders offer a one-year fixed rate home loan under 5%</a> while Mortgage Choice says seven lenders on its panel dropped their fixed-rate loans over the past week.
Of those borrowers who did lock in a fixed-rate, the most popular term (74% of all fixed-rate home loans) was three years, followed by two-years (16%).
Only 5% of fixed-rate borrowers chose a one-year fixed rate term.
“Following speculation last month of fewer rate cuts to come this year, and the latest CPI data hinting at less rate activity, it comes as no surprise that borrowers are taking advantage of the good fixed rate loan offers available. By securing their interest rate they are also locking in peace of mind over the next few years," says Mortgage Choice spokesperson Belinda Williamson.
The Mortgage Choice October figures also show a considerable uplift in the preference for ongoing discount rates loans, reaching 40% of all new loans approved. This follows two consecutive monthly drops in demand in August and September.
 “There was a downward trend on the popularity of discount rates loans – where the loan is discounted over the entire loan term – in the months before October, as economists were predicting a number of rate cuts by the Reserve Bank before the end of the year,” says Williamson.
“This month appeared to buck this trend however, as we saw an increase in ongoing discount rate loan appeal. As the talk of further rate cuts dries up, this increase shows more borrowers are now shopping around for long-term bargains.”
Standard variable rate loan demand fell by three percentage points to 15% of all new loan approvals, while the preference for basic variable rates remained steady at 19%.
Demand for line of credit loans - popular with investors - fell by one percentage point to 3% and introductory rate popularity remained at less than 1%.
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Demand for fixed-rate mortgages climbs to six-month high: Mortgage Choice

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Once again the value of negative gearing to allow property investors to buy their properties has come into question. 
Some academic commentators and social welfare lobbyists seem to regard negative gearing as primarily a tax avoidance device use by the wealthy to rort the system, which has the added consequence of pushing up property values. 
Negative gearing is not just for the rich
The assertion that all negatively geared property investors are “ugly wealthy Australians” is simply unfounded and incorrect. 
According to 2006-07 ATO taxation records, 1.6 million taxpayers claimed rental income, and of those, two in three negatively geared their investment(s). Interestingly, these investors predominately do not come from the wealthy end of town. Indeed, 74% of negatively geared investors earned less than $80,000. Only 4% were in the top tax bracket. 
The fact is, using the benefit of negative gearing investment has allowed many ordinary working-class Australians to invest in property and to take control of their financial destiny. 
Property investors provide an essential service
While some opponents of negative gearing appeal to the frustration of would-be home owners, suggesting they have been locked out of the market by greedy, tax-driven property investors who receive billions of dollars of tax breaks that push up property prices, I would argue that property investors provide an essential service to millions of Australians who chose to, or have to, rent their accommodation, and as such these investors should be treated like all other businesspeople. 
In our modern society we pay taxes and expect the government to provide us with certain essential services. These include hospitals, roads, schools, jails, public transport, aged care and public housing. 
In Australia the government often shares the burden of providing these services with private enterprises that can often deliver them more efficiently and cheaper. 
When the government can’t supply enough public hospital beds, privately run hospitals step up to the mark and not only receive tax deductions for their business loans, but also allowances to subsidise them. So do aged care providers, schools and public transport providers that provide services in tandem with the government.
Our government also provides public housing, but not enough for all those who can’t afford to buy their own property. While government programs such as the National Rental Affordability Scheme and other social and public housing programs are helpful, it is only the private rental market that can deliver rental accommodation at the rate and scale that is required at present. 
Property investors save a deposit, buy a property, commit to a loan for 25 or 30 years and provide accommodation for others in our community. In return we expect to get a reasonable return on our investment risk, just like other businesspeople do. 
We know that the rent won’t cover our expenses, but accept that certain tax benefits plus the long-term capital growth will make up for this. 
Sometimes it does, and sometimes it doesn’t.
What if the government removes negative gearing?
Leverage and negative gearing compounds returns in the good times, but multiplies losses when property prices are flat or falling. I know as many people who have lost money in property investment as those who have made money.
Much like most other small businesspeople.
If the government takes away my tax concessions, I would have to consider my investment options. To ensure I get a decent return I’d put up my rents if I could, or maybe I’d invest elsewhere to get the best bang for my bucks.
The result would be that rents would rise and tenants would have to fight over the few rental properties left, or the government would have to invest its own money and buy or build properties and enjoy the pleasures of being a landlord.
Of course the government already provides some public housing, but not enough, leaving the task of providing rental accommodation not only in our capital cities, but also in regional Australia and in the remote mining towns to private investors. People like you and me who have chosen to run our own little property investment businesses.
If I set up a dog wash business or a restaurant, I’d be able to claim a tax deduction for legitimate business expenses including loans to set up our business or purchasing business equipment.
Why should it be different for property investors who take on a business risk?
 
<hr class="system-pagebreak">
 
Doesn’t negative gearing push up property values?
To say negative gearing has pushed up property prices is a smoke screen.
Just look what happened to property prices overseas in countries like the USA and parts of Europe, where negative gearing isn’t allowed. They experienced a boom and a subsequent bust of much greater magnitude that we have.
What these lobbyists may not recognise is that borrowing in order to undertake productive investment actually helps economic growth because value is being added.
After all, there will always be some investments that have lower returns than the interest expenses on the loans taken on to acquire them. This economic reality has nothing whatsoever to do with tax.
For example, a typical property investment may start off with a large loan and lowish rent. As time goes by the loan is paid down and the rent increases. Overall the investor makes a profit and the tax office gets its share of this.
Actually, there is not as much loss of revenue to the authorities as some critics believe, because for every dollar of interest claimed as a tax deduction by a borrower there is a corresponding dollar of interest assessable to a lender.
But that’s not all
If the government stops the availability of negative gearing benefits, the danger arises that there may be unintended consequences.
It is possible that even following a positive cashflow strategy you end up negatively geared and suffer. What if:
• Interest rates rise after you buy your investment?
• Rents fall or your property becomes vacant for a period of time? Or
• You have to undertake a major repair of your investment property?
To deny the person making commercial a loss like this a tax deduction would be to inflict a double whammy on them and increase their hardship unduly.
In conclusion:
Any reduction in negative gearing benefits would significantly reduce rental investment in both new and existing properties and would worsen rental affordability through a reduced supply of investment housing. A reduced rental supply means lower rental vacancies and increased rents.
Property investment is a real and effective method for bolstering the savings of middle Australia at the same time providing accommodation for those who the government can’t or won’t help and should remain as is.
Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Strategists</a>, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://propertyupdate.com.au/category/property-investment/">Property Investment Update</a> blog. Subscribe today and you'll receive a free video, The Golden Rules of Property Investment.
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myardney-DFoGhGbSJX

Negative gearing helps all Australians, not just the rich

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With the recent interest rate reduction in October by the Reserve Bank of Australia (RBA) and another one predicted to possibly occur on Melbourne Cup Day next week. I thought it would be a good time to have a look at just what a difference a 0.25-percentage-point drop in your interest rate really does and how to take advantage of it. (As long as the bank pass on the full rate reduction, but that’s a discussion for next month.)
The first thing that happens every time the rate drops is that every media outlet and even we often send out a chart of what happens with your repayments. And it’s true that on an average $350,000 mortgage a 0.25% difference will save you about $72.91 per month in interest.
For the clever investor or home owner, though, the impact can be far greater.
So how do you take advantage of the recent rate reductions?
For home owners looking to pay off their home
Maintain your current repayments
Now that sounds simple enough, but in reality this can be a little tricky because it can depend on your lender. You see some lenders like the idea of collecting 30 years’ worth of interest from you and will adjust your payments downward each time the interest rate drops. So you get a letter in the mail that says your new payment will be X, you read it and file in the circular filing cabinet. Then what ends up happening is that next month the automatic payment gets taken and you don’t realise and all of a sudden you have spent that extra $72.
If you want to really take advantage of the extra money what you may need to do is call your bank and change your repayment from the minimum amount to a set payment. It’s a simple call that could cut years of your home loan. Why not check out the <a title="Extra Repayment Calculator" target="_blank" href="https://www.chan-naylor.com.au/uploads/57029/ufiles/extrarepayments">Extra Repayment Calculator</a> at <a title="Chan and Naylor | Home Loan &amp; Finance Calculators" href="https://www.chan-naylor.com.au/calculators/">chan-naylor.com.au/calculators</a> and you will see that an extra repayment of $72 a month will cut a $350,000 mortgage by two years and eight months.
Put the extra fund towards paying off your credit cards
If you aren’t paying off your credit card on a monthly basis the rate reduction can be a great way to finally start bringing that credit card balance down. Again, this can be as simple as arranging with your bank to set up an automatic direct debit form the same account your mortgage payments where coming from so that you don’t notice the extra $72. And remember when rates are falling it can be a great time to negotiate to get your credit card interest rate down.
 
<hr class="system-pagebreak">
 
It can be a great time to check out a new loan
Because the market is more competitive and lenders are trying to position themselves after a rate reduction and get you to commit, it can be a great time to shop around for a mortgage. Lenders tend to offer rate discounts and switching incentives to get you to sign on the dotted line, so negotiating can be easier. The savings made by reviewing your loans can be quite substantial, however as always, just be sure to weigh up the overall costs of refinancing (upfront, ongoing and exit fees) compared to the savings.
For property investors
In the last 12 months interest rates have dropped over 1.5 percentage points (according to the RBA website), that means we have had six rate drops of 25 basis points each in the last 12 months. Well, you're probably thinking that's pretty simple maths and rather obvious. But have you thought about the fact that these rate reductions have essentially reduced your interest cost by six times $72 a month? That means you now have almost $432 extra per month.
What if you put that $432 in cashflow per month back to work for you? With variable interest rates around 6% at the moment that’s an extra $86,400 you may be able to borrow. Probably not enough to get you into another property, but then these numbers are based on a single $350,000 loan.
What if you have a home loan and an investment property? You can see that the last 12 months could really be doing you some favours.  And with three-year and five-year fixed rates between 5.5% and 6% now is a great time to take advantage of a <a title="Request a Free Lending Capacity Check | Chan &amp; Naylor Finance |" href="https://www.chan-naylor.com.au/free-lending-capacity-check/">Free Lending Capacity Check</a> to check your new borrowing capacity.
With your extra borrowing power it can be a great time to be looking for new property investments especially where property market prices have fallen. However when interest rates drop, eventually people start to notice the extra money in their pockets and eventually consumer confidence starts to return.
Now if anyone can tell me exactly when consumer confidence is going to return, as they say in the old movies I will buy them a steak dinner.
Albertus Waldron is finance strategist and partner at<a href="https://www.chan-naylor.com.au/" target="_blank"> Chan &amp; Naylor</a>
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How owner-occupiers and property investors can make the most of an RBA rate cut

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Nearly two-thirds of property investors and buyers expect the cash rate to fall over the next six months, according to a survey of more than 800 Property Observer readers.
More than a third (35%) of those surveyed expect one more rate cut over the next six months – the most popular choice among readers of the website with just over a quarter (28%) expecting two rate cuts (50 basis points)  between now and March next year.
However, a significant proportion – roughly in one five – expect no more rate cuts over this period while more than one in ten readers (12%) expect the cash rate to rise by either 25 basis points or 50 basis points in the short term.
The results of the survey suggest there is fair amount of uncertainty among investors and borrowers about the direction of interest rates.
This is also borne out by the response to a refinancing question in the survey with just a quarter of borrowers saying they would consider refinancing over the next year - a lower mortgage rate is a reason why many borrowers would refinance.
The results of the survey come less than a week until the Melbourne Cup Day November RBA cash rate decision, where sentiment has swung from a sure-bet of a rate cut to it now being a close call following a speech by RBA deputy governor Philip Lowe, who said “very low interest rates in many other economies should not be seen as a good thing or something to aspire to”.
<a href="/news">Commonwealth Bank chief economist Michael Blythe</a> interpreted the speech to mean that it was now only a “50-50 call” as to whether the RBA would cut rates.
Similarly, in a recent column for the Australian Financial Review, economist Christopher Joye said November rate cut hopes were dimming <a href="https://www.propertyobserver.com.au/news/fewer-economists-expecting-a-november-cup-day-rba-rate-cut-bloomberg/2012102657470">despite 21 out 28 economists polled by Bloomberg</a> still expecting the RBA to trim further.
Joye highlighted that bank interest rates rather than the target cash rate set by the RBA were having more of an impact on stimulating demand.
“The RBA is belatedly starting to acknowledge that interest rates, as opposed to its target cash rate, are getting quite stimulatory for rate-sensitive sectors,” said Joye.
"Two major banks have now cut the price of their fixed-rate home loan products to 20-plus-year lows. Unsurprisingly, auction clearance rates are reinvigorating," he added.
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A maximum of two more rate cuts to come say uncertain Property Observer readers

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An internal ASIC taskforce will investigate the collapse of Victorian non-bank lender and debenture issuer Banksia as well as consider regulation of the wider Australian unlisted debenture sector.
Banksia Securities collapsed last week placing $660 million in small investor savings at risk. The financier lent on debenture holders' money as mortgages to fund property purchases.
Apart from Banksia, the other notable debenture issuer to collapse recently was <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/provident-capital-s-creditors-vote-to-liquidate/2012102457415" target="_blank">NSW-based non-bank lender Provident Capital,</a> with unsecured creditors voting to liquidate the $130 million sub-prime lender last week.
Debenture issuers unlike banks, building societies and credit unions are not generally regulated by APRA nor are there any prudential standards that apply.
The ASIC taskforce will be led in Melbourne by Commissioner John Price and will make its recommendations to Treasury.
“The <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/industry-news/victorian-non-bank-lender-banksia-securities-collapses/2012102657456">failure of Banksia</a>, an unlisted debenture company that has operated a mortgage financing business across a large part of regional Victoria, will affect the lives of many everyday Australians. ASIC wants to take a closer look as it is another area of retail-funded shadow banking,” says ASIC chairman Greg Medcraft.
"At the moment there are laws around disclosure and, to a limited extent, the conduct of debenture issuers. But we need to lift the regulatory intensity to make sure that investors are confident and informed.’ "The taskforce will review the extensive work we’ve done to date around the regulation of the unlisted debenture sector. The taskforce’s work may involve making recommendations to Treasury about law reform given we have pushed the existing conduct and disclosure regime to its limit.’ "We will also work closely with Banksia receivers and managers McGrath Nicol to try and get the best result for Banksia investors and retail clients who Banksia provided credit to.
"Importantly, we’ll also continue to remind debenture trustees of their obligations as gatekeepers to protect investors and monitor debenture investments - particularly bad loans and liquidity problems,” says Medcraft. 
Prior to the collapse of Banksia and Provident Capital, unlisted debenture issuers were on ASIC’s radar with the watchdog undertaking “general market reviews” of the sector and conducting “risk based surveillances on a small number of debenture issuers”.
ASIC is not a prudential regulator but will monitor disclosures made by debenture issuers.
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ASIC taskforce to investigate Banksia collapse and seek regulation of unlisted debenture sector

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September RBA housing credit figures have emphasised the point made by both Commonwealth Bank chief Ian Narev and RBA deputy governor Philip Lowe that lower interest rates are not encouraging borrowers to take on more housing debt.
Housing credit increased by just 0.4% over September, following an increase of 0.3% over August to be up  4.7% over the year to September.
This set new low for annual mortgage growth for RBA records going back to 1976.
The previous low was an annual growth rate of 4.8% in August 2012.
Since the RBA started cutting the cash rate in November last year annualised mortgage lending growth has fallen from 5.6% to 4.7%.
Putting this into context, between 2000 and 2004 – during the last housing boom – annual mortgage lending growth averaged between 15% and 22%.
The RBA figures show low credit growth in other sectors as well indicating business and consumer caution and an unwillingness to take on more debt.
Other personal credit (such as credit cards and personal loans) increased by 0.2% over September, after decreasing by 0.3% over August.
Over the year to September, other personal credit decreased by 0.9%.
Business credit increased by 0.3% over September, after decreasing by 0.1% over August.
Speaking at the Commonwealth Bank AGM yesterday, <a href="https://www.propertyobserver.com.au/news/rate-cuts-wont-stimulate-housing-market-whether-passed-on-in-full-or-not-cba-chief-executive-ian-narev/2012103057535" target="_blank">Ian Narev</a> said interest rate reductions were being used to “accelerate repayment of debt”.
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Mortgage growth falls to new historic lows as borrower caution rules over lower interest rates: RBA figures

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Big four bank NAB has reported a 22% drop in full year profits but very strong growth in mortgage lending despite soft metropolitan housing markets and low demand for housing credit.
Statutory net profits for the year to September decreased by $1.1 billion or 21.8% to $4.1 billion while cash earnings fell by $27 million or 0.5% to $5.4 billion reflecting “ongoing challenges” in the restructuring of its UK banking business.
However, mortgage lending increased by 9.9% over the financial year – 1.6% higher than system growth - with NAB picking up 30 basis points in mortgage market share (up from 14.5% to 14.8%) as its Australian mortgage book increased from $130 billion to $143 billion over the course of the financial year.
Cash earnings from NAB’s personal banking division increased by $113 million or 12.1% to $1.0 billion with the bank reporting that its “differentiated customer proposition continued to deliver market share gains in both housing lending and household deposits in a highly competitive market”.
NAB has maintained its promise of having the lowest standard variable home loan rate of the Big Four banks over the past three years.
NAB group chief executive Cameron Clyne says personal banking had a “particularly strong year delivering increased returns, higher market share in mortgages and household deposits, and the highest bank customer satisfaction score of the four major Australian banks ever recorded in the Roy Morgan survey”.
However mortgage lending has become less profitable with NAB’s net interest margin decreasing by 16 basis points compared to September 2011 due to "funding and deposit cost pressures and changes in product mix".
The bank regained two basis points on its net interest margins in the second half of the financial year (March to September) “reflecting mortgage repricing”.
The report notes the ongoing subdued lending environment and cautious behaviour of households, who remain focused on repaying down debt.
“The slowing in housing credit to a record low reflects the easing in lending to owner occupiers,” says NAB in its full year results release.
“Loan approval numbers have recently stabilised at a low level as the volume of lending has been held back by the weakness in key metropolitan housing markets.
NAB expects mortgage lending to accelerate further over the next two years to “around 8% year-on-year by late 2014”.
In its review of group performance, NAB reports that “Australia has been one of the best performing advanced economies over the last five years”.
However, it notes that challenges remain including the impact of the stronger Australian dollar due to the mining boom on employment and activity in the manufacturing and tourism industries and in the regions reliant on those sectors.
“Caution in the household sector, reflected in the higher savings ratio and weak credit appetite, is the other major challenge.
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NAB full year profits slump but mortgage growth up 10% despite soft metro housing markets

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A speech last night by RBA deputy governor Philip Lowe has reduced what seemed like a sure bet cash rate cut on Melbourne Cup Day to only a "50-50 call", according to Commonwealth Bank chief economist Michael Blythe.
Blythe says the overall impression of the speech is that “lower interest rates may be required at some point but there was no strong signal that the Bank was preparing to cut rates at next week’s board meeting”.


“We still favour a Melbourne Cup Day rate cut but it is increasingly looking like another 50?50 call,” he added.
Speaking at the Australasian Fixed Income Conference, where he gave an overall positive assessment of Australia’s stronger position relative to Asia and other advanced economies, Lowe said “lower-than-average interest rates” were providing “some support to demand in the economy”.
He said there was also “some sign that they have led to a slight improvement in the property market, although there has been little change in the appetite for debt”.
Blythe highlighted the remarks made by Lowe comparing Australia’s high interest rate settings relative to other countries.
Lowe says the main reason for these higher settings is that “the rate of return on new investment in Australia is higher than in many other countries, as evidenced by the high level of investment”.
“The very low interest rates in many other economies should not be seen as a good thing or something to aspire to. They reflect those countries' difficult economic circumstances, and particularly the low risk-adjusted returns available on new investment,” Lowe says.
Blythe says the case for lower rates at some point revolves around “weak global growth, the global uncertainties impacting on household and business decisions and the asset allocation decisions triggered by quantitative easing (QE) measures that are putting upward pressure on exchange rates in non?QE economies.
“The deputy governor explicitly noted that high exchange rates in some countries “should not come as a surprise” but could be “uncomfortable” for those involved.”
In his speech Lowe noted that “uncertainty stemming from problems in the advanced economies" was having an impact on confidence in Australia.
“It has adversely affected confidence and has led to the deferral of some decisions and more cautious behaviour.
But he also says that subdued confidence levels have “domestic roots”
“Employment growth, the rate of asset price increases and consumption growth are all lower than they were over the decade to the mid-2000s," said Lowe.
“During this earlier period the outcomes in these areas were very strong as the economy adjusted to low inflation and the increased availability of credit.
"But this adjustment is now complete, and the return to more normal patterns has come as a disappointing surprise to many who thought that the previous outcomes were the norm.
"This gradual realisation that the future is likely to be different from the past is an important factor weighing on sentiment in Australia,” Lowe says.
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Melbourne Cup Day rate cut now only a '50-50 call' following deputy RBA governor speech: Michael Blythe

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Lenders continue to cut their fixed-rate home loans as anticipation builds that the RBA may cut the cash rate to 3% on Melbourne Cup Day on Tuesday.
Yesterday Credit Union Australia (CUA), the nation’s biggest customer-owned lender, dropped its one, two and three-year fixed rate home loans to 5.3% following moves by other lenders throughout the month.
Mozo product data manager Peter Marshall told Property Observer earlier this month that fixed rates <a href="/news">“still have some way to fall”</a> and have not matched the falls in variable rates since the RBA starting cutting the cash rate in November last year.
This follows Community First Credit Union and Greater Building Society both offering one-year fixed rate home loans at 4.99%.
The following results are based on advertised mortgage rates listed by <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> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of October 30:
Lowest variable rate offerings:
<table border="1" cellpadding="0" cellspacing="0" width="470"><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">
Dream Catcher
</td>
<td valign="top" width="97">
5.42%
</td>
<td valign="top" width="116">
5.45%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="124">
UHome Loan (for refinancing)
</td>
<td valign="top" width="97">
5.47%
</td>
<td valign="top" width="116">
5.47%
</td>
</tr>
<tr>
<td valign="top" width="134">
Nationwide Mortgage
</td>
<td valign="top" width="124">
True Save Home Loan
</td>
<td valign="top" width="97">
5.47%
</td>
<td valign="top" width="116">
5.47%
</td>
</tr>
<tr>
<td valign="top" width="134">
Mortgage View
</td>
<td valign="top" width="124">
Pro Pack
</td>
<td valign="top" width="97">
5.47%
</td>
<td valign="top" width="116">
5.49%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table border="1" cellpadding="0" cellspacing="0" width="470"><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">
Greater Building Society
</td>
<td valign="top" width="123">
Ultimate home loan
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
6.02%
</td>
</tr>
<tr>
<td valign="top" width="137">
Community First Credit Union
</td>
<td valign="top" width="123">
12 month fixed
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
6.46%
</td>
</tr>
<tr>
<td valign="top" width="137">
My Mortgage Freedom
</td>
<td valign="top" width="123">
Fixed rate &gt;75 LVR
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
5.98%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHome Loan (for refinancing)
</td>
<td valign="top" width="95">
5.03%
</td>
<td valign="top" width="114">
5.4%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table border="1" cellpadding="0" cellspacing="0" width="470"><tbody>
<tr>
<td valign="top" width="133">
Provider
</td>
<td valign="top" width="133">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="108">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="133">
UBank
</td>
<td valign="top" width="133">
Three year fixed
</td>
<td valign="top" width="97">
5.13%
</td>
<td valign="top" width="108">
5.40%
</td>
</tr>
<tr>
<td valign="top" width="133">
Pacific Mortgage Group
</td>
<td valign="top" width="133">
Three year fixed
</td>
<td valign="top" width="97">
5.19%
</td>
<td valign="top" width="108">
5.43%
</td>
</tr>
<tr>
<td valign="top" width="133">
HSBC
</td>
<td valign="top" width="133">
Three year fixed
</td>
<td valign="top" width="97">
5.29%
</td>
<td valign="top" width="108">
6.15%
</td>
</tr>
<tr>
<td valign="top" width="133">
CUA
</td>
<td valign="top" width="133">
Residential Fixed Three years
</td>
<td valign="top" width="97">
5.30%
</td>
<td valign="top" width="108">
5.9%
</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 target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
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Lenders cut fixed rates: guide to the lowest rate home loan offerings fixed and variable as of October 30

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Credit Union Australia (CUA), the nation’s biggest customer-owned lender, has dropped its one-, two- and three-year fixed rate home loans to 5.3% from October 26 – making them among the lowest offered in the market today.
Click to enlarge
<a href="/images/stories/2012/10/cuaoct29.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/10/cuaoct29thumb.gif"></a>
Jason Murray, CUA’s general manager for products and marketing, says for people wanting to take advantage of the current low market rates, CUA’s suite of fixed rates offer home buyers and existing borrowers a highly competitive option.
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