<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;

Joel Robinson

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

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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Property Observer has scoured the most well-known mortgage comparison websites to determine the lowest variable rate home loan and one- and three-year fixed home loans currently available.
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 August 27:
Lowest variable rate offerings:
<table cellpadding="0" cellspacing="0" border="1" width="470"><tbody>
<tr>
<td valign="top" width="158">
Provider
</td>
<td valign="top" width="151">
Loan name
</td>
<td valign="top" width="123">
Rate
</td>
<td valign="top" width="132">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="158">
UBank (NAB)
</td>
<td valign="top" width="151">
UHomeloan Refinance
</td>
<td valign="top" width="123">
5.62%
</td>
<td valign="top" width="132">
5.62%
</td>
</tr>
<tr>
<td valign="top" width="158">
Nationwide Mortgage
</td>
<td valign="top" width="151">
True Saver Home Loan
</td>
<td valign="top" width="123">
5.65%
</td>
<td valign="top" width="132">
5.65%
</td>
</tr>
<tr>
<td valign="top" width="158">
Loans.com.au
</td>
<td valign="top" width="151">
Dream Catcher
</td>
<td valign="top" width="123">
5.65%
</td>
<td valign="top" width="132">
6.02%
</td>
</tr>
<tr>
<td valign="top" width="158">
My mortgage freedom.com.au
</td>
<td valign="top" width="151">
My mortgage freedom
</td>
<td valign="top" width="123">
5.66%
</td>
<td valign="top" width="132">
5.97%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table cellpadding="0" cellspacing="0" border="1" 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">
V Plus Home Loans
</td>
<td valign="top" width="123">
V Plus 1 Year fixed
</td>
<td valign="top" width="95">
5.44%
</td>
<td valign="top" width="114">
5.74%
</td>
</tr>
<tr>
<td valign="top" width="137">
My mortgage freedom.com.au
</td>
<td valign="top" width="123">
My mortgage freedom. fixed rate
</td>
<td valign="top" width="95">
5.44%
</td>
<td valign="top" width="114">
6.06%
</td>
</tr>
<tr>
<td valign="top" width="137">
Reduce Home Loans
</td>
<td valign="top" width="123">
Reduce Fee Free 1 Year Fixed Rate
</td>
<td valign="top" width="95">
5.54%
</td>
<td valign="top" width="114">
6.16%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank (NAB)
</td>
<td valign="top" width="123">
UHomeLoan for Refinance – Fixed Rate Loan
</td>
<td valign="top" width="95">
5.58%
</td>
<td valign="top" width="114">
5.81%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table cellpadding="0" cellspacing="0" border="1" 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">
V Plus Home Loans
</td>
<td valign="top" width="133">
V Plus 3 Year fixed
</td>
<td valign="top" width="97">
5.44%
</td>
<td valign="top" width="108">
5.70%
</td>
</tr>
<tr>
<td valign="top" width="133">
My mortgage freedom.com.au
</td>
<td valign="top" width="133">
My mortgage freedom. fixed rate
</td>
<td valign="top" width="97">
5.44%
</td>
<td valign="top" width="108">
6.06%
</td>
</tr>
<tr>
<td valign="top" width="133">
UBank (NAB)
</td>
<td valign="top" width="133">
UHomeLoan for Refinance – Fixed Rate Loan
</td>
<td valign="top" width="97">
5.54%
</td>
<td valign="top" width="108">
5.69%
</td>
</tr>
<tr>
<td valign="top" width="133">
Bank of Queensland
</td>
<td valign="top" width="133">
3 Year Fixed Loan
</td>
<td valign="top" width="97">
5.55%
</td>
<td valign="top" width="108">
6.67%
</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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lschlesinger-FZcF9M3vE6

Lowest rate home loan offerings from 5.44%: Fixed and variable as of August 27

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Estate agents in Nelson Bay, the suburb in Australia with the highest number of mortgage arrears, say the high mortgage arrears rate only applies to lifestyle properties, and they blame a series of poorly timed developments in the area for the number of lapsed mortgages.
<a target="_blank" href="/news">A recent report by Fitch Ratings</a> found the NSW Hunter region town has a delinquency rate of 7.8% for mortgages more than 30 days in arrears – five times the national average of 1.6%.
The Nelson Bay figure is unchanged from six months ago, and it has been consistently hard hit since Fitch’s first report in 2007.
Local agent Daniel O'Meara of O'Meara Property says although the rate is high, there are few cases where  residents are losing their homes.
“The vast majority of owners of these properties are not owner-occupiers and rarely live locally. As these are not the family home, the mortgage will often be let slip once money becomes tight.
O’Meara says part of the reason so many lapsed on their mortgages was the high number of poorly performing developments in the area.
“There are a number of developments throughout the area which were highly geared and commenced or completed construction too late to benefit from the last boom, and the loan value is so high that the borrowers have experienced higher-than-average days on market to achieve a suitable sale,” O'Meara says.
Raine and Horne agent Chris Hasson says there were a series of poorly timed decisions by developers that have since gone into receivership.
“There were a whole group of the units which went into receivership based on their developers going broke which were then bought by a super fund, so there’s a whole heap being sold,” says Hasson.
“If you took out those complexes we’d be well below the average.
“The people who developed those bought the land around the peak time in 2002 to 2003. They paid too much for the land and then bought all the units and tried to sell at a time when we’ve had GFC and other slow-downs in the market.”
Hasson says his agency has handled just two or three mortgagee repossession sales in the last six months.
“Our big feeder is retirees and families, those properties are in high demand they can sell in two or three weeks. Out stock is down 35% and demand has gone up 5% in the last six months.”
O’Meary says the 2315 postcode contains a much higher than average proportion of investment and holiday or lifestyle properties, which are not owner-occupied.
“Lifestyle or holiday properties tend to have a low return once all fees and costs are deducted, often leaving the loan unserviceable if the owner has lost employment or experienced a business downturn.”
He says investors need to do their homework before buying into the lifestyle market.
“There is always a risk in highly gearing the purchase of investment and lifestyle properties, so investors should always have a back-up plan”
“Market lows always eventually follow market highs, and we all need to account for both ends of the scale.”
The Port Stephens municipality has a population of 64,807 people with 30,516 private dwellings, according to ABS 2011 census data. Some 18.7% of dwellings are unoccupied, nearly double the state figure of 9.7%.
The median weekly household income is $999, compared with the state median of $1,237.
The median monthly mortgage repayment is $1,725, compared with the state median of $1,993.
The Fitch report blamed the high delinquency rate on “stagnation in the local housing market, which led to an accumulation of arrears in the 90+ day bucket”.
“The stagnation in the local housing market has increased the time required for foreclosed properties to sell, leading to an accumulation of arrears in the 90+ day bucket (4.57% as of March 2012).
“Furthermore, properties that are in arrears tend to be high-value properties, where the mortgage balance is on average almost three times the average loan balance in Nelson Bay,” says Fitch.
The median house price in Nelson bay is $417,500 with prices down 1.8% over the last five years, according to RP Data. For units, the median price is $310,000, down 26.4% over the last five years.
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awalsh-7Ub9EypybQ

Nelson Bay vendors not all that delinquent: Estate agents

<html><body>
The flat mortgage and housing market conditions are expected to persist into 2013, according to mortgage broker Mortgage Choice, which managed to grow both its market share and franchise numbers in the 2012 financial year but reported a drop in cash profits.
Mortgage Choice reported net profit after tax of $15 million for the year ending June 30, a fall of 5.7% on the 2011 financial year, in line with earlier guidance.
Last year Mortgage Choice revealed 2011 full-year cash profits of $15.9 million, an increase of 7.4% on the $14.8 million achieved in the 2010 financial year.
At a press briefing today, Mortgage Choice CEO Michael Russell described the mortgage and housing market picture as “benign but in the black”, with ABS housing finance figures showing a 2.9% rise in new mortgage commitments for financial year.
"I can't see any reason for this to change materially from last year.
"We have seen a correction in median house price in past couple of years. My view is for a stable outlook going forward over the next year or two.
Russell says Australia is fortunate that it has an "incredible undersupply of housing issue", which "is real".
As a result he can’t see "any fall of the cliff but a fairly flat house price environment".
Russell expects at the most one more rate cut, possibly in November, but says a 25-basis-point cut would not have much impact on the market.
He says tailwinds in the market are being negated by headwinds.
Tailwinds affecting mortgage lending are "steady population growth, a stable interest rates outlook, fierce competition among lenders, low unemployment and an undersupplied housing market".
Headwinds are "out-of-cycle interest rate movements, increased lender funding costs, global economic uneasiness, falling house prices and consumers deleveraging and saving more".
The total value of loans written by Mortgage Choice brokers and aggregator LoanKit grew by 6.4% to $45.1 billion over the 2012 financial year, with its market share increasing from 4.2% to 4.6% of all new home loans written – peaking at 4.9% (almost one in 20 new loans) in March and April.
Mortgage Choice reported a 13% rise in approvals to $9.9 billion as well as a 11% rise in settlements to $8.7 billion.
Mortgage Choice brokers were paid an average upfront commission of 0.6%, with CFO Susan Mitchell pointing out that all of its brokers are paid the same rate so are not financially motivated to send one home loan to one lender over another.
Mortgage Choice reported that its franchise business had shown growth after growth stalling in the previous three years.
Franchise numbers increased by 12 to 380, the highest number since January 2009, while franchise owners increased from to 330 to 338, the highest since July 2008.
Russell says the key messages was that this was a “solid result, reflects our commitment to diversifying our business running in conjunction to our core business”.
“This is a very pleasing result for the second half of the financial year.”
Mortgage Choice declared a fully franked dividend of 7¢ per share for the second half of the year.
</body></html>

Benign but in the black: Mortgage Choice CEO Michael Russell's call on mortgage and housing market

<html><body>
The five postcodes in South Australia with the highest number of mortgage arrears, by total number, according to Fitch Ratings, are: 
5108 PARALOWIE, SALISBURY, SALISBURY DOWNS, SALISBURY NORTH, SALISBURY NORTH WHITES ROAD
5169 MOANA, SEAFORD, SEAFORD HEIGHTS, SEAFORD MEADOWS, SEAFORD RISE
5114 ANDREWS FARM, BLAKEVIEW, CRAIGMORE, GOULD CREEK, HUMBUG SCRUB, ONE TREE HILL, SAMPSON FLAT, SMITHFIELD, SMITHFIELD PLAINS, SMITHFIELD WEST, ULEYBURY, YATTALUNGA
5109 BRAHMA LODGE, SALISBURY EAST, SALISBURY EAST NORTHBRI AVE, SALISBURY HEIGHTS, SALISBURY PARK, SALISBURY PLAIN
5092 MODBURY, MODBURY HEIGHTS, MODBURY NORTH, MODBURY NORTH
</body></html>

cknowlton-QnEa6ntUYP

The five worst postcodes in South Australia for the number of mortgage arrears: Fitch Ratings

<html><body>
The top 10 worst postcodes in Victoria for mortgage arrears, by total number, according to Fitch Ratings, are: 
3214 CORIO, NORLANE, NORTH SHORE
3024 MAMBOURIN, MOUNT COTTRELL, WYNDHAM VALE
3337 KURUNJANG, MELTON, MELTON WEST, TOOLERN VALE
3064 CRAIGIEBURN, DONNYBROOK, KALKALLO, MICKLEHAM, ROXBURGH PARK
3940 RYE, ST ANDREWS BEACH, TOOTGAROOK
3212 AVALON, LARA, POINT WILSON
3844 BLACKWARRY, CALLIGNEE, CALLIGNEE NORTH, CALLIGNEE SOUTH, CARRAJUNG, CARRAJUNG LOWER, CARRAJUNG SOUTH, FLYNN, FLYNNS CREEK, KOORNALLA, LOY YANG, MOUNT TASSIE, TRARALGON, TRARALGON EAST, TRARALGON SOUTH, TYERS
3023 BURNSIDE, BURNSIDE HEIGHTS, CAIRNLEA, CAROLINE SPRINGS, DEER PARK, DEER PARK NORTH, RAVENHALL
3047 BROADMEADOWS, DALLAS, JACANA
3806 BERWICK, HARKAWAY
</body></html>

The 10 worst postcodes in Victoria for number of mortgage arrears: Fitch Ratings

<html><body>
The worst 10 postcodes for mortgage delinquencies, by total number, according to Fitch Ratings, are: 
2262 BLUE HAVEN, BUDGEWOI, BUDGEWOI PENINSULA, BUFF POINT, COLONGRA, DOYALSON, DOYALSON NORTH, HALEKULANI, SAN REMO
2558 EAGLE VALE, ESCHOL PARK, KEARNS
2325 ABERDARE, ABERNETHY, BELLBIRD, BELLBIRD HEIGHTS, CEDAR CREEK, CESSNOCK, CESSNOCK WEST, CONGEWAI, CORRABARE, ELLALONG, ELRINGTON, GRETA MAIN, KEARSLEY, KITCHENER, LAGUNA, LOVEDALE, MILLFIELD, MORUBEN, MOUNT VIEW, NULKABA, OLNEY, PAXTON, PAYNES CROSSING,
2315 CORLETTE, FINGAL BAY, NELSON BAY, SHOAL BAY
2168 ASHCROFT, BUSBY, CARTWRIGHT, GREEN VALLEY, HECKENBERG, HINCHINBROOK, MILLER, SADLEIR
2171 CARNES HILL, CECIL HILLS, ELIZABETH HILLS, HORNINGSEA PARK, HOXTON PARK, LEN WATERS ESTATE, MIDDLETON GRANGE, WEST HOXTON
2749  CASTLEREAGH, CRANEBROOK
2564 GLENQUARIE, LONG POINT, MACQUARIE FIELDS
2322 BERESFIELD, BLACK HILL, CHISHOLM, HEXHAM, LENAGHAN, STOCKRINGTON, TARRO, THORNTON, TOMAGO, WOODBERRY
2766 EASTERN CREEK, ROOTY HILL
</body></html>

The 10 worst NSW postcodes by number of mortgage arrears: Fitch Ratings

<html><body>
The seven postcodes in Western Australia with the highest number of mortgage arrears, according to Fitch Ratings, are:
6168 COOLOONGUP, EAST ROCKINGHAM, GARDEN ISLAND, HILLMAN, PERON, ROCKINGHAM, ROCKINGHAM BEACH, ROCKINGHAM DC
6064 ALEXANDER HEIGHTS, GIRRAWHEEN, KOONDOOLA, MARANGAROO
6167 ANKETELL, BERTRAM, CALISTA, CASUARINA, KWINANA BEACH, KWINANA TOWN CENTRE, MANDOGALUP, MEDINA, ORELIA, PARMELIA, POSTANS, THE SPECTACLES, WANDI
6210 COODANUP, DUDLEY PARK, ERSKINE, FALCON, GREENFIELDS, HALLS HEAD, MADORA BAY, MANDURAH, MANDURAH DC, MANDURAH EAST, MANDURAH NORTH, MEADOW SPRINGS, SAN REMO, SILVER SANDS, WANNANUP
6059 DIANELLA
6110 GOSNELLS, HUNTINGDALE, MARTIN, SOUTHERN RIVER
6169 SAFETY BAY, SHOALWATER, WAIKIKI, WARNBRO
</body></html>

The seven worst postcodes for number of mortgage arrears in WA: Fitch Ratings

<html><body>
The worst 10 postcodes in Queensland for the number of mortgage delinquencies, according to Fitch Ratings, are: 
4217 BENOWA, BUNDALL, BUNDALL BC, BUNDALL DC, CHEVRON ISLAND, GOLD COAST MC, ISLE OF CAPRI, MAIN BEACH, SURFERS PARADISE
4132 CRESTMEAD, MARSDEN
4285 ALLENVIEW, BEAUDESERT, BIRNAM, BROMELTON, CAINBABLE, CEDAR GROVE, CEDAR VALE, CHINGHEE CREEK, CHRISTMAS CREEK, CRYNA, DARLINGTON, GLENEAGLE, HILLVIEW, INNISPLAIN, JOSEPHVILLE, KAGARU, KERRY, KNAPP CREEK, KOORALBYN, LAMINGTON, LARAVALE, MOUNT GIPPS, MUNDOO
4212 HELENSVALE, HELENSVALE TOWN CENTRE, HOPE ISLAND, SANCTUARY COVE
4301 COLLINGWOOD PARK, REDBANK, REDBANK PLAINS
4815 CONDON, GRANITE VALE, GUMLOW, KELSO, PINNACLES, RASMUSSEN
4280 JIMBOOMBA, NORTH MACLEAN, SOUTH MACLEAN, STOCKLEIGH
4505 BURPENGARY, BURPENGARY DC, BURPENGARY EAST
4300 AUGUSTINE HEIGHTS, BELLBIRD PARK, BROOKWATER, CAMIRA, CAROLE PARK, GAILES, GOODNA, SPRINGFIELD, SPRINGFIELD CENTRAL, SPRINGFIELD LAKES
4127 DAISY HILL, PRIESTDALE, SLACKS CREEK, SPRINGWOOD
</body></html>

The top 10 postcodes in Queensland by total number of mortgage arrears: Fitch Ratings

<html><body>
Attending the REINSW Commercial Property Conference in Sydney today, Ray White Menai’s Matt Debreczeni tweeted about rate cut forecasts from Westpac chief economist Bill Evans.
Evans was the keynote speaker at the conference.
<a href="https://twitter.com/mattdebreczeni" target="_blank"><img src="/images/stories/2012/08/rbatweet.jpg"></a>
In July, Evans pushed back his forecast for the next 25-basis-point rate cut reduction to the December quarter, having previously forecast rate cuts in August and September.
He re-affirmed this position in today's update to the Westpac-Melbourne Institute Leading Index of economic activity.
</body></html>

Bill Evans and the rate cuts ahead over next six months: Tweet of the day

<html><body>
Talk of a so-called white-collar recession appears unfounded, with borrowers living in the most affluent parts of Sydney, Melbourne, Brisbane and Perth managing to keep up to date with their mortgage repayments, according to the latest mortgage arrears figures from Fitch.
Its September Australian Mortgage Delinquency by Postcode report highlights that “affluent regions still performing”.
Fitch says the best-performing regions exhibit “strong resilience in terms of mortgage performance”, with the weighted average delinquency rates in the top 10 best-performing regions worsening by just 12 basis points to 0.81% from 0.69%, in September 2011, versus a national decline of 18 basis points from 1.7% to 1.86% over the same period.
The top two positions were unchanged.
Lower northern Sydney, home to harbour-view suburbs like Mosman, Neutral Bay, Kirribilli and Cremorne, remains the best0performing region by both value and number of mortgages in arrears as of March 2012, with an average of just four mortgages out of 1,000 delinquent by 30 days or more.
Fitch says this reflected the “solid socio-economic situation in the region”.
Boroondara City in the eastern suburbs of Melbourne and incorporating Hawthorn, Kew and Camberwell, ranked second, with a delinquency rate of 0.43%.
A notable inclusion in the top 10 performing regions was central metropolitan Perth – the inner and middle suburbs of Perth – which ranked as the third best-performing region, with a delinquency rate of 0.45%. The region did not rank in the top 10 six months ago.
Fitch notes that delinquencies in Perth have improved despite the general increase in Australia during the September 2011 to March 2012 period.
Click to enlarge
<a href="/images/stories/2012/08/fitchaug22.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/fitchaug22thumb.gif"></a>
 “In particular, central metropolitan Perth showed a remarkable improvement in terms of both value and number of borrowers in arrears: as of March 2012, the 30+ day delinquency rate was 0.78% versus 1.19% in September 2011, and only five borrowers out of 1,000 were delinquent," commented Fitch.
This improvement was in line with south-west WA dropping out of the worst-performing regions in Australia as of the March 2012 survey with the 30-plus-day delinquency rate dropped 32 basis points to 1.85%, from 2.17% in September 2011 (and against the national trend of delinquencies rising by 18 basis points over this period).
“This is a remarkable improvement, considering that delinquencies already dropped 76 basis points in the March 2011 to September 2011 period,” notes Fitch.
“The improvement was particularly noteworthy in the 90+ day bucket, with arrears decreasing to 0.98% in March 2012 from 1.33% in September 2011. This indicates an increasing clearance rate for secured properties of delinquent loans that have rested in the 90+ day bucket due to a stagnating housing market.”
Overall, south-west WA performed better than the rest of the country due to the flow-on effects of rising income from the mining boom.
However, the rest of WA, excluding Perth and south Western Australia, showed a slight worsening in mortgage performance, with 30+ day arrears increasing to 2.00% in March 2012 from 1.84% in September 2011.
As of March 2012, the 30+ day arrears rate in WA was recorded at 1.59% compared to 1.50% in September 2011 and 1.99% in March 2011.
</body></html>

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