<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

<html><body>
Increased first-home buyer activity and demand for fixed-rate mortgages were the two key trends to emerge from solid November ABS housing finance figures released today. The figures, which include the impact of the November 1 rate cut, reveal that the number of owner-occupier mortgages increased 1.4% to just under 47,000 – the eighth consecutive monthly increase in mortgage approvals.
By state, the figures for owner-occupier finance were mixed, continuing the divide evident in 2011, noted Westpac. 
“NSW outperformed, up 4.2%, with the announced changes to stamp duty arrangements from the start of 2012 bringing demand forward,” Westpac says. 
“The mining state of WA strengthened, up 0.9%. However, Victoria weakened, down 0.2%, with the state facing a sizeable increase in supply. Queensland remained disappointing, up 0.9%, which was insufficient to reverse falls over the previous two months,” says Westpac. There was a pick-up in the investment sector, with fixed loans for investment housing rising 2.2% to $6.6 billion while the total number of loans purchased for new dwellings increased by 2% over the month. 
Macquarie senior economist Brian Redican described the November data as “encouraging and a step in the right direction”.
He expects the two successive interest rate cuts and the prospect of more cuts to come in 2012 to deliver further boosts to the housing sector in the months to come.
“I think it does have to have a positive impact. These numbers don't reflect those cuts yet and it will have to take a few more months for that to flow through,” Redican says.
First-home buyers’ share of mortgage approvals (excluding refinancing) increased to 16.1% in November from 15.7% in October. “This is the highest first-home buyer share of total approvals since January 2010 and shows that improving housing affordability is generating some moderate first-home buyer activity,” noted David Cannington from ANZ Research. Cannington expects first-home buyers’ share of the market to continue to increase over the coming months due to further weakening in house prices and lower mortgage rates – December housing finance figures will factor in both the November and December rate cuts as well as improved interest rate sentiment. The other key finding from the November data was the growing demand for fixed-rate loans, which increased to 11.1% in November from 10.6% in October to be at the highest proportion since June 2008. “Attractive fixed mortgage rates and ongoing financial market uncertainty continued to drive an increase in fixed rate lending,” Cannington says.
Dean Rushton, chief operating officer of mortgage broker Loan Market, expects the eight months of consecutive mortgage growth to continue while consumers act upon the November and December rate cuts.
“Consumers will likely remain confident in the housing finance market, with the strong possibility of a rate cut in February,” he says.
“This should fuel a significant number of approvals in the coming months, which will stimulate many struggling sectors in the economy.” 
Mortgage approvals in NSW were up 4.9% from October 2011, and 9.4% for the year. 
“In NSW we’re seeing a significant demand brought forward by first-home buyers acting before the 2011 deadline for the stamp duty exemption,” Cannington says.
There was a 2% increase in loans for the purchase of new homes with a 5.6% rise in NSW, an 8.4% increase in Queensland, a 13.4% in South Australia, a 20.9% increase in the Northern Territory, and a 17.5% increase in the ACT. 
The number of loans for new housing fell by 8.5% in Victoria, 3.3% in Western Australia, and 8.9% in Tasmania. Over the three months to November 2011 lending for new housing was down in all states and territories except for Tasmania, WA and Queensland. 
<img src="/images/stories/newhomeloanshia.gif">
 HIA chief economist Harley Dale says there is “a modest revival underway in the established lending market, which now extends to five rises in six months”. 
“New home lending has yet to join the ride,” he says. 
The combined number of loans for construction/purchase of a new dwelling was effectively flat in November 2011 (up 0.3%) to be down by 8% when compared to the same month in 2010,” Dale says.
“The second half of 2011 saw a renewed trend decline in new home lending, a concerning situation which further highlights the risk of new housing starts approaching GFC-like levels once more,” Dale adds.
Masters Builders Australia chief economist Peter Jones also noted the ongoing weakness in loans for construction and purchase of new dwellings.
“The key finance indicator released today by the ABS shows that demand for new dwellings remains flat, despite indications of a pick-up in commitments for the purchase of established dwellings.
“The housing market is beginning to pick itself off the floor but the number of finance commitments remains weak by historical standards as consumer caution and euro turmoil work against the upswing. 
“The two recent rate cuts in November and December will help, but Master Builders believes the Reserve Bank still needs to do more to boost confidence and encourage a recovery in residential building.
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Mortgage approvals up amid increased first-home buyer and fixed-rate home loan demand

<html><body>
Demand for home loans has continued to increase for an eighth consecutive month in November, according to the latest figures from the Australian Bureau of Statistics.
The figures show the number of loans granted rose by a seasonally adjusted 1.4% to 46,953, after a downwardly revised 46,953 in October.
Total housing finance rose by 2.1% to $2.03 billion.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/index.php"> SmartCompany</a>.
 
 
 
</body></html>

pmcstafford-pr9eMARWoN

Housing finance lifts for eigth consecutive month

<html><body>
Members Equity Bank will look to sell its home loans through mortgage brokers after signing a distribution agreement with National Mortgage Brokers (nMB).
Melbourne-based nMB is the bank’s first broker partner, and it has plans for additional third-party agreements further down the track.
The bank’s decision to partner with brokers comes as more lenders look to strengthen ties with the broker market.
According to Fujitsu Consulting’s October 2011 Australian Mortgage Industry report, mortgage brokers currently originate 43% of all mortgages in Australia.
As a result, lenders have been improving their broker service propositions, including NAB, which last year extended its waived application fee and $700 switching incentive to its broker-only Homeside brand.
In October last year, a poll of 942 brokers by NAB’s Homeside division found that more than two-thirds of brokers believe the bank has improved its broker interaction.
In July, <a href="https://www.propertyobserver.com.au/finance/brokers-see-better-bank-relations-after-st-george-commission-move/2011071550817" target="_blank">St George increased the amount of commission brokers could earn</a> by upping the upfront commission component from 50 basis points to 65 basis points and also reintroduced a 15-basis-point trail commission.
Gerald Foley, managing director of nMB, says the negotiated distribution agreement allows ME Bank to make its products available to the estimated 40% of new borrowers who use a broker. 
“Our network relationship will also deepen ME Bank's accessibility into areas where it may not have strong representation today,” says Foley. 
According to Ian Hendey, ME Bank’s group executive for brand, product and distribution, the decision to use third-party distribution followed considerable research across its customer base “that clearly signalled the broker channel was a key additional distribution channel”.
“Our research found that that more than half of our target market of industry super fund and union members would contact a mortgage broker for their home loan needs,” he says. 
The decision by the bank to part with brokers comes as figures from mortgage aggregator AFG revealed that non-major bank lenders’ share of mortgage lending increased strongly in December to nearly a quarter of all loans. 
Non-major bank lenders wrote 24% of all AFG loans in December, up from a previous 12-month average of just 19%.
 
</body></html>

ME Bank connects with brokers as second-tier lenders gain ground

<html><body>
The Commonwealth Bank has agreed to change the way it advertises its “Wealth Package” home loans due to concerns from ASIC that ads promoting the product did not mention the $350 annual fee in the advertised comparison rate.
The Wealth Package is offered to existing customers who already have a Commonwealth Bank mortgage of at least $150,000.
ASIC said rates used in ads were incorrect and potentially misleading. “Under the National Credit Code, credit ads that include an annual percentage rate must also include a comparison rate. Comparison rates incorporate the fees, charges and interest relating to a loan to better reflect the true cost of credit,” the regulator said. “ASIC was concerned CBA’s home loan ads promoting its Wealth Package loans did not include the Wealth Package $350 annual fee in the advertised comparison rate. “When promoting a package loan, any fee in connection with a loan to qualify for the advertised annual percentage rate must be included in the comparison rate. Not including all fees and charges results in a comparison rate not reflecting the loan’s true cost.” ASIC commissioner Peter Kell says comparison rates help consumers work out the actual cost of credit.
“It can be difficult for people to compare home loans with different combinations of interest rates and fees. This is why credit providers must include the comparison rate when they advertise a rate or a weekly payment for a home loan, and ASIC will be active to ensure compliance in this area,” Kell says.
“Consumers will be more confident if they have information that allows them to properly understand and compare financial products.”
Later this year, ASIC will release a consultation paper on advertising of credit products.
The slap on the wrist for the CBA comes soon after the <a target="_blank" href="/news">launch of home loan key fact sheets</a>, which credit providers must offer customers on request.
</body></html>

CBA changes home loan ad after ASIC complaint

<html><body>
Mortgage broker Mortgage Choice says home loan key fact sheets are a good starting point for making mortgage comparisons, but are not a comprehensive tool. 
Since January 1, 2012, lenders must provide customers with a home loan key facts sheet, setting out the details of the mortgage they may apply for including the interest rate, loan amount, fees, total cost of the mortgage (including interest), how much mortgage repayments will rise if the interest rate rises by 1% and ways to pay off their home loan faster. 
The fact sheet requirement is aimed at making it easier for borrowers to compare mortgage products and is part of the government’s banking reforms program, which also includes the ban on exit fees on variable-rate mortgages. 
The home loan key facts sheets do not constitute an offer to provide credit.
According to Belinda Williamson, acting head of corporate affairs at Mortgage Choice, the introduction of the fact sheets are a positive step but “only address one part of the home loan comparison process”. 
“While they do help borrowers assess the cost of a specific home loan product in comparison to others, they do not present a comprehensive comparison of the home loan's features such as the availability of a redraw facility, an offset account, etc. and the impact these may or may not have on the total cost of the loan,” Williamson says. 
“They also do not go to the extent of demystify specific loan types (such as interest only versus principal and interest, line of credit, etc.).”
Mortgage Choice brokers will provide lenders' key facts sheets to borrowers on request. 
“When choosing a loan it is important that borrowers compare all aspects of a home loan including the interest rate, any upfront, ongoing and exit fees, the availability of loan features and the impact of these on the total cost of the loan, the accessibility of the lender (e.g. do they have online banking, local ATMs, etc.) and the lender’s service quality,” Williamson says. 
Example (click to enlarge):
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/keyfactbankwest.gif"><img src="/images/stories/keyfactbankwestthumb.gif"></a>
 
Damian Smith, CEO of comparison website RateCity.com.au, says the fact sheets will make it easier for borrowers to “compare apples with apples before they apply for a home loan”. 
"Anything that simplifies the lending process and encourages greater transparency in the home loans market is a good thing for competition. 
"The fact sheets will be standardised so lenders will be required to provide borrowers with information in the same way, making the comparison process easier. This will help first-time borrowers in particular compare loans side by side, and give them just a little more bargaining power – which is a good thing," he says.
The initiative has the support of consumer group Choice, with its head of campaigns Matt Levey calling the introduction of home loan key fact sheets “a welcome step towards transparency, allowing consumers to more easily compare mortgage products on their merits”.
“Choice has campaigned strongly for reforms to increase competition in the banking sector, and one of the most powerful ways to do this is to make consumers more mobile, able to seek out better deals and move their money” says Levey.
“Key fact sheets are part of this equation, along with measures like the ban on mortgage exit fees and steps to improve confidence in smaller lenders.”
Levey says they are part of the solution to overcome the perception revealed in Choice consumer surveys that there is too much hassle and little benefit in switching mortgages, “by making the switching process more straightforward, and making it easier to compare different deals in the market place on similar terms”.
“Experience tells us that those consumers who do switch often find the process easier than they expected, and that those who shop around often find better deals,” he says.
Though not obligated to do so, mortgage franchise RAMS – part of Westpac –will publish key fact sheets on its website. 
“This will enable consumers to compare the strength of the RAMS product set against the major banks products,” a spokesperson for the franchise says. 
Australia biggest mortgage lender, the Commonwealth Bank, is backing the scheme with a spokesperson saying it is “important to provide customers with the information they need to make informed financial services decisions”. 
For more information on the new home loan fact sheets visit <a target="_blank" href="https://www.bankingreforms.gov.au/content/Content.aspx?doc=homeloan.htm">the government’s website</a>. 
 
 
 
 
</body></html>

Home loan key fact sheets just a good starting point for borrowers: Mortgage Choice

<html><body>
I kicked off 2012 with a tweet where I asked followers what they thought the biggest issues would be in the new year. The first response was mortgage interest rates and the domination of the big banks.
It's an interesting concept and one that I think Australians have been sold short on. What do I mean by this? Simply that the solution to the problem of high mortgage rates and mortgage domination by a few players is almost entirely the result of borrowers' choice.
There is an interesting situation in Australia right now where the big four trading banks write more than 90% of all new mortgages. That's a highly dominant position by world standards. You'd expect that the reason four banks write nine out of 10 mortgages is that they offer lower rates – something you'd expect given the scale that such market dominance affords.
But the big four are not cheaper: Canstar's RateCity comparison tables were posted on January 3, and I was having a look, seeing who was offering what right at the start of the new year. I was struck by how much more expensive the banks were: their standard variable rate mortgages were bunched together, from NAB's 7.22% to Westpac's 7.36%, with Commonwealth's 7.31% and ANZ's 7.3% in the middle. Yet there were more than 20 mortgage lenders with standard available rates about one percentage point cheaper than the big banks. These are credit unions and non-bank lenders, mostly.
We also know that the government changed the law last year so that Australians could switch from their current mortgage to another one without paying penalties – the exit fee ban. And we also know that because of the internet and the rise of mortgage brokers, there's never been as much information available as there is now.
From my perspective it's clear that mortgage interest rates are high for 90% of Australians because they choose to have it this way. I experienced this a decade ago when I was the executive chairman of Wizard Home Loans. Together with other non-bank lenders – Aussie and RAMS – we offered mortgages with better prices, service and products. By 2003, non-bank lenders had about 15% of the mortgage market and banks had halved their mortgage margins. Now? Non-banks have 1% of the mortgage market and their interest rates are much lower than the bank competition.
The answer 10 years ago was the same as it is today. If borrowers want the best deal for themselves they have to exercise their right to choose.
That's what makes a vibrant free market: providers making their best offer, and consumers making a choice.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
This article originally appeared on <a href="https://neoskosmos.com/news/en/Peoples-choice" target="_blank">Neokosmos.com</a>
</body></html>

mbouris-tauSvXGAM2

Borrowers must exercise their freedom of choice: Mark Bouris

<html><body>
Mortgage franchise RAMS is looking to entice new borrowers in the slow month of January by cutting application fees on all its mortgage products.
“Apply for a RAMS Home Loan by 31 January 2012 and we’ll drop the application fee. Yes, we’re offering a $0 home loan application fee across our entire range of new loans – saving you $$$s!” says a message on the RAMS website.
The lender is particularly strong among first-home buyers.
RAMS, which is owned by Westpac, passed on both the November and December rate cuts in full.
The lender offers a standard variable rate of 7.18%, undercutting all the major banks.
NAB is the cheapest major lender, with a rate of 7.22%
Westpac’s standard variable rate is 7.36%.
 
 
</body></html>

RAMS eliminates mortgage application fees in January

<html><body>
The stranglehold the major banks have had on mortgage lending since the onset of the GFC appears to be loosening, with AFG reporting that second-tier lenders accounted for nearly a quarter of all loans arranged by its mortgage brokers in December.
AFG’s December Mortgage Index shows that non-major bank share of mortgages jumped from an average share of 19.1% over the past 12 months to 24.39% in the last month of 2011.
This is the first time since the third quarter of 2007 – when the sub-prime mortgage crisis began brewing – that major lenders have not written close to 80% of more of AFG’s mortgage lending business.
December 2011 was also the biggest increase in the second-tier’s share of the mortgage market over the past 12 months and significant since AFG brokers write around one in ten mortgages in Australia.
According to November banking statistics from APRA, ING remains the biggest non-major bank lender (excluding brands owned by the major banks) with a loan book of just over $37 billion, followed by Suncorp ($29 billion), Bendigo and Adelaide Bank ($21.6 billion) and Bank of Queensland ($21.3 billion).
Non-major lenders were particurlarly popular with those refinancing, with their share of this sector rising from 21.0% to 28.8% during the month – an increase of 37%.
<img src="/images/stories/buyertype.gif">
 Source: AFG
In the past, both the refinancing and investment home loan markets have been tightly held by the majors, with first-home buyers showing the greatest willingness to try non-majors. But the December figures reveal a significant change, with non-major market share rising among refinancers to around the same level as among first-home buyers, 28%.
AFG’s inaugural first Competition Index revealed that non-major lenders are competing strongly in niche markets, with Suncorp writing an impressive 14.9% of all first-home buyer loans in October, nearly double that of NAB (7.7%) and higher than ANZ (12.5%).
Suncorp’s share of the first-home buyer market was almost triple its overall market share of 5.1% captured in October, up from just 3.1% in November 2010.
AFG general manager of sales and operations Mark Hewitt says the company is being careful not to read too much into any one month’s set of figures, but says “there’s no question that the market is becoming increasingly competitive and that non-majors did particularly well last month”. 
“This trend will help keep rates competitive as we move into 2012. If the expected rate reductions come through over the next quarter, we could see a very different lending environment, supporting the recovery of property markets across Australia,” he says. 
AFG brokers also wrote an increasing number of fixed-rate loans in December, with the proportion of fixed rate mortgages rising from 17.2% to 19.2% – but below the 24% fixed-rate market share achieved Mortgage Choice franchisees. 
In line with seasonal falls, mortgage sales volumes declined month on month by 26% in December, which together with January are quieter months for the industry. 
But sales volumes were up by 5.4% nationally compared with December 2010, with the strongest growth (comparing December 2011 with December 2010) occurring in South Australia (44.8%), followed NSW (up 15.6%) and Queensland (7.7%).  Mortgage lending in Western Australia contracted by 3.9% and in Victoria by 8.9%.
 
</body></html>

Major banks' mortgage dominance loosening as smaller lenders get a look-in: AFG

<html><body>
Self-made millionaire John Symond wants to boost broker numbers, pick up more assets and build a financial advice service at Aussie Group, the home loan group he flogged to Commonwealth Bank during the global financial crisis.
Symond has told the Australian Financial Review that Aussie Group "has to diversity our revenue stream. Nearly all of new loans are being written by the four major banks or their subsidiaries."
"We have to write more mortgages but also have to generate a lot more non-mortgage revenue by leveraging the Aussie consumer brand."
The comments come as Aussie Group reports a 39% increase in net profit to $52 million, with a loan book of more than $40 billion.
Despite predicting the housing market faces another weak year, Symond's expansion plans include boosting broker numbers to more than 1,000 by the end of 2012, and recruiting dozens of wealth managers, the paper reports.
The Aussie Home Loans founder now serves as executive chairman of the mortgage broker and financial services group Aussie Group, after selling a 33% stake of the business to the Commonwealth Bank of Australia in 2008.
East &amp; Partners principal analyst Paul Dowling says Aussie isn't alone in casting a wide net for growth.
"Intermediaries like Aussie have got to start adding value," Dowling says.
"Their pitch, 'We'll save you money by shopping around', that's where it's started and stopped."
He adds that with flat mortgage demand, and small pricing variants between the dominant majors, it's likely to be another difficult year for mortgage brokers.
The mortgage broker market – dominated by Aussie Group, Mortgage Choice and AFG – is tipped by IBISWorld to grow by 0.5% in the year to June.
Dowling adds that Commonwealth Bank of Australia would be gunning for Aussie to become another wealth management channel.
"Symond has always been precious about the relationship with CommBank, but that's they're going to want their pound of flesh."
Just as Aussie Home Loans stole market share by focusing on the lower end of the market, the report says the financial advice business will also focus on the majority of Australians who do not seek financial advice.
Symond has also made headlines this week by tipping that the Government will bring back the first home buyers boost to stimulate the property market ahead of next year's election.
"Probably my cynical self says six to 12 months ahead of the next election, it would not surprise me that the government might stimulate housing by helping first home buyers and they may possibly introduce a bonus or a boost to the first home owner's grant," Symond said.
Symond added that for first home buyers, "all the ducks [are] lining up – lower price values, lower interest rates, makes it easier to save and easier to get into home ownership."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
</body></html>

cknowlton-QnEa6ntUYP

John Symond's Aussie Group eyes more brokers after posting 40% profit jump

<html><body>
The November and December interest rate cuts did nothing to dampen borrower enthusiasm for fixed-rate mortgages, which surged to nearly a quarter (24%) of all mortgages approved by Mortgage Choice brokers in December. 
The December figure is 3% higher than fixed-rate loan approvals recorded in November and the seventh consecutive month (since June 2011) that fixed rates have grown in popularity. 
Demand for fixed-rate mortgages is now at a three-and-a-half-year high, with customer demand for variable rate loans falling from 79% to 76% over the month. 
Demand for fixed-rate mortgages is also well above both the 12-month average (15%) and the six-month average (18%). 
The growing appetite for fixed-rate loans comes despite the pace of fixed-rate cuts dropping off ahead of the Christmas break and mortgage market analysts forecasting demand for the products to fall as the RBA enters a rate loosening phase. 
Westpac brands the Bank of Melbourne and St George cut their fixed rate mortgages on December 22.
<img src="/images/stories/mcjan6.gif">
Source: Mortgage Choice
According to Mortgage Choice spokeswoman Belinda Williamson cheap rates and the repayment certainty are two factors that may convince borrowers to choose a fixed-rate product. 
“Consecutive cash rate cuts in November and December 2011 have not swayed Australian borrowers’ desire for fixed-rate loans,” she says. 
“It is possible borrowers’ need for certainty around their home loan repayments, coupled with the affordability of fixed-rate loans, are the driving forces behind demand for this loan type. 
“During December fixed rates were significantly lower than variable rates, in some cases the difference was one percentage point or more.” 
According to Mortgage Choice data, demand for ongoing discount mortgages – where the rate is discounted over the life of loan – dropped from 44% to 41%, but this type of mortgage still remains the most popular product offering and its popularity remains above a 12-month average of 35% of all mortgages.
 
 
</body></html>

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Finance Insights

NAB bring forward first RBA cut to February 2025

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News