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

Joel Robinson

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

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

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

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

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

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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>
For many Australians, the joy of Christmas time is generally accompanied by increased expenditure as people spend big on presents, socialising, travel and the like.  And for those borrowers already having difficulty meeting mortgage repayments, unfortunately Christmas brings little relief – instead it can be a time of increased financial hardship and stress. 
There are a number of ways that borrowers can look to avoid experiencing mortgage stress over the Christmas period, or at the very least, reduce it.  In my experience, planning ahead is key – the more you can anticipate costs in advance and allocate funds where necessary, the better positioned you will be to maintain your regular mortgage repayments. 
Carefully budget
It sounds obvious, but surprisingly many people do not stick to a budget at Christmas and get swept away with the various novelty items that can be purchased.  However when you overspend on unnecessary items it can be tempting to make up the shortfall by skipping an often sizeable mortgage repayment which can be expensive – both in terms of the fees incurred as well as the extra accrued interest that gets added to your overall amount owing. 
Budgeting doesn’t mean you have to be a scrooge, rather it involves considering everything that you will need to purchase over the season, including presents, food stuffs and beverages, decorations, cards and postage costs etc.  With all of your expenses laid out, it is easier to realistically see what you can afford and how your available capital can be best allocated.  This knowledge should put you in a better position to avoid skipping a mortgage repayment and can also help to reduce levels of anxiety.
 
Assess your mortgage options
While every mortgage package is different and each lender has varying conditions, there may be certain steps you can take to manage your mortgage at Christmas time. 
If you have been consistently paying an amount above the minimum repayment due then you could have a buffer that may allow you to reduce your repayments to the minimum level due over Christmas time, giving you somewhat of a reprieve over the costly period.  If you are not in such a position this year, it is certainly worth considering paying above the minimum amount over the course of next year, particularly as interest rates may move downwards, which should better prepare you to cope financially next Christmas. 
For those borrowers who will struggle to make the minimum repayment required due to increased Christmas expenses, various lenders may offer suitable options such as repayment holidays, which could see you able to put your repayments on hold for a specified period.  While convenient at the time, these options should be approached with care, as they will almost always incur a fee and interest will continue to accrue. 
Mortgage management over the expensive Christmas season is certainly possible but takes planning and careful budgeting.  For those people in serious mortgage stress, I would highly recommend sitting down with your lender to discuss your situation and to see the types of remedies that can be offered.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a> 
 
 
 
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ctarbey-W47GL9jwxa

Avoid mortgage stress over Christmas

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Westpac subsidiary brands St George and Bank of Melbourne has followed their parent bank by passing on the full RBA rate cut.
Both banks will reduce their standard variable home loan rateby 0.25% to 7.3% per annum. However, Bank of Melbourne will cut its rate on December 16 while St George will wait until December 19 before passing on the rate cut.
Both banks have also cut variable business loan and business overdraft rates by 0.25% – effective from the same dates.


“St George cut its standard variable home loan rate by 0.25% in November and I’m pleased to let our customers know we’ve decided to cut our rates by a further 0.25%,” says St George Bank chief executive Rob Chapman.
 
 
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lschlesinger-FZcF9M3vE6

Westpac brands deliver full rate cut

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Westpac and CBA joined their major bank rivals NAB and ANZ by passing on the full 0.25 cash rate cut to their variable home rate borrowers.
Their decisions came after the close of business. Westpac and CBA's rate cuts will kick on December 19, while ANZ and NAB will cut rates on December 16.
Earlier in the day, NAB became the second major lender to pass on the full RBA rate cut, following on from <a href="/news">ANZ</a>, which was first out the blocks.
Having taken more than two days to make up its mind, the NAB reminded borrowers that for 29 months it has offered the lowest standard variable home loan rate of the major banks.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td colspan="2" valign="top" width="567">
Announced Standard Variable Rate p.a., as at 8pm 8 December 2011 
</td>
</tr>
<tr>
<td valign="top" width="371">
NAB 
</td>
<td valign="top" width="196">
7.22%
</td>
</tr>
<tr>
<td valign="top" width="371">
ANZ 
</td>
<td valign="top" width="196">
7.30%
</td>
</tr>
<tr>
<td valign="top" width="371">
CBA 
</td>
<td valign="top" width="196">
7.31%
</td>
</tr>
<tr>
<td valign="top" width="371">
WBC 
</td>
<td valign="top" width="196">
7.36%
</td>
</tr>
</tbody></table>
NAB customers will save $62 per month on an average $300,000 NAB home loan.
Lisa Gray, group executive NAB Personal Banking, says the decision was a  difficult one,  “where we have had to weigh the concerns of our customers and the community with the rising cost of funds”.
“While we continue to be concerned about uncertainty in Europe and the impact on increased funding costs, our view is that it is important to put money back in the hands of our customers and assist with supporting the Australian economy this Christmas.
“We remain concerned about rising funding costs and will continue to monitor developments overseas.”
<a target="_blank" href="/news">Bank of Queensland</a> and <a target="_blank" href="/news">ME Bank</a> have also decided to pass on the rate cut in full.
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All big banks follow ANZ's lead in passing on full rate cut

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It has taken almost two days, but ANZ has jumped first, breaking the big bank silence and passed on the full 25-basis-point rate cut to its borrowers.
 
The bank says it will lower interest rates for variable-rate mortgages and small business lending by 0.25% per annum effective from December 16. 
This will reduce its new standard variable mortgage rate to 7.3% per annum.
 
In addition, the bank has introduced a special two-year fixed-term mortgage at 5.95% per annum on December 12. This is a reduction of 0.2% per annum on the current two-year rate and 1.35% per annum lower than ANZ’s new standard variable rate. 
The bank says future pricing decisions will be made on the second Friday of each month, (rather than following RBA rate decisions). 
ANZ chief executive Australia Philip Chronican says: “In the face of the economic and banking crisis in Europe, our decision on the size of the interest rate change has been one of the most difficult we have made in recent times. Retail banking margins have been contracting as the cost of funds has progressively risen over the last six months. 
“Bank funding costs are now largely unrelated to movements in the Reserve Bank’s Official Cash Rate. We have therefore taken a decision to announce future pricing changes for retail and small business variable interest rates on the second Friday of each month. 
“This provides a measure of predictability for customers on when rate changes will occur and it provides us with the flexibility to reflect movements in funding costs across the full spectrum of funding sources – not solely in response to the Reserve Bank’s cash rate. 
“We know many people in the community are doing it tough at the moment and, on this occasion, we felt that a decision to reduce interest rates by 0.25% per annum for home borrowers and for small business was the right one in the circumstances. 
“The significance of the crisis in Europe however has real consequences for the global economic outlook, for the Australian economy and for bank funding costs,” he says.
 
 
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ANZ to pass on full 25-basis-point rate cut to borrowers

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Federal Treasurer Wayne Swan says borrowers who are not satisfied with the response of the major banks to the December 6 rate cut should vote with their feet and switch lenders.
A move away from the majors to some of the second-tier lenders would certainly increase competition in the sector.
According to mortgage broker AFG’s November report, the major banks increased their dominance of mortgage lending, accounting for 80.4% of all loans processed, compared with 78.9% in October.
In addition, all the major banks delivered record profits this financial year, with Westpac earning $6.99 billion (10% up), the Commonwealth Bank taking home $6.1 billion (40% up), NAB earning $5.5 billion (19.2%) and ANZ earning $5.4 billion (19%).
Collectively that totals about $24 billion, greater than gross national products of Taiwan, the Czech Republic and Hungary, to name just a few.
For the millions of borrowers still waiting to hear how much of the RBA’s 0.25% cash rate cut the major banks will pass on, here’s a rundown of just how big their mortgage books are:
$304.2 billion
The size of the Commonwealth Bank mortgage book (including Bankwest)
$287 billion
The size of the Westpac mortgage book (including St George)
$174.7 billion
The size of NAB’s mortgage book
$160 billion
The size of ANZ’s mortgage book
$37 billion
The size of the ING Direct mortgage book
$29.6 billion
The size of the Suncorp mortgage book
$21.6 billion
The size of the Bendigo and Adelaide Bank mortgage book
$21.2 billion
The size of Bank of Queensland’s mortgage book
$7.2 billion
The size of the HSBC mortgage book
$7.1 billion
The size of Citibank’s mortgage book
$6.4 billion
The size of AMP’s mortgage book
$5.4 billion
The size of the Members Equity Bank mortgage book
$2.3 billion
The size of Macquarie Bank’s mortgage book
 
Source: APRA October 2011 monthly banking statistics
 
 
 
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Major banks’ mortgage books soar as borrowers toy with swapping lenders 

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As the stand-off between the big banks and their borrowers enters an unprecedented second day, credit unions and mortgage minnows have shown up their bigger rivals by passing on most of the November 6 rate cut.
BMC Mortgage, Collins Home Loans, Credit Union SA, Hemisphere Financial, Police and Nurses Mutual Banking, The Capricornian and Unicredit WA have all passed on at least 16-basis-point reductions to customers, according to RateCity.com.au.
Lenders that have cut rates
<div align="center">
<table style="width: 450px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="29%" nowrap>
Lender 
</td>
<td width="43%" nowrap>
Product 
</td>
<td width="12%" nowrap>
New rate 
</td>
<td width="15%" nowrap>
Cut by 
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Platinum Pack
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Advantedge
</td>
<td width="12%" nowrap>
6.93%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Premium Variable
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.47%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
First Home Buyer Low Deposit
</td>
<td width="12%" nowrap>
7.46%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Go Between Loan
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.16%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
First Home Loan
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable &lt;299k
</td>
<td width="12%" nowrap>
7.22%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable Unlimited
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Contour Loan
</td>
<td width="12%" nowrap>
7.44%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Home Loan
</td>
<td width="12%" nowrap>
7.04%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Horizon Loan
</td>
<td width="12%" nowrap>
6.69%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Quickstart Loan
</td>
<td width="12%" nowrap>
7.34%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Easypay Variable
</td>
<td width="12%" nowrap>
7.03%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Dream Home Loan Var
</td>
<td width="12%" nowrap>
6.74%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Life Style Home Loan
</td>
<td width="12%" nowrap>
7.09%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
7.60%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My Advantage Variable 50K to 2M
</td>
<td width="12%" nowrap>
7.10%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My First Home Loan Variable 50K to 750K
</td>
<td width="12%" nowrap>
6.70%
</td>
<td width="15%" nowrap>
-0.65%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Unicredit-WA
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
 
</td>
<td width="43%" nowrap>
 
</td>
<td width="12%" nowrap>
 
</td>
<td width="15%" nowrap>
 
</td>
</tr>
</tbody></table>
</div>
They join <a target="_blank" href="/news">Bank of Queensland</a>, <a target="_blank" href="">ME Bank</a> and <a target="_blank" href="/news">Heritage Bank</a> (all of whom have passed on the rate cut in full) to announce their interest rate decisions.
The mortgage comparison website calculates that just 6% of more than 110 lenders on its site have announced that they will pass on at least part of the Reserve Bank's 0.25% reduction to mortgage customers (as of December 7).
It expects the majority of lenders to move over the coming weeks as they did in November.
Alongside the Big Four banks and their subsidiary brands ING Direct and Citibank have yet to make any announcement about rate cuts following the RBA cutting the cash rate by 25 basis points on December 6.
Damian Smith, RateCity's CEO, says switching to another lender may be more cost-effective than many borrowers realise.
"If your lender doesn't move on rates this month and you end up with a rate over 7% by January, then switching to a another lender may see you in front financially in less than one year," he says.
The average upfront fee when switching to a new home loan is $535 for home loans in the RateCity database. Some lenders may also be required to pay an exit fee if they signed up to their existing loan before July 1.
"For a borrower with a $400,000 home loan and paying the average of the big four bank's standard variable rates of 7.55% would need to switch to a new rate of 7.38% (0.17% less) to recoup the costs of switching within the first 12 months.
"Borrowers currently paying a rate of 7.1% would need to switch to a rate of 6.93% to recoup the costs of switching in the first year.
"There is really no need to stick with your current lender if they aren't willing to budge on interest rates or they aren't one of the most competitive on the market,” Smith says.
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Mortgage minnows show up major banks on rate cuts 

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As the major banks continue to hold off on making interest rate decisions, Heritage Bank has joined <a href="/news">Bank of Queensland</a> and <a href="/news">ME Bank</a> by passing on the full 25-basis-point rate cut to its borrowers.
Heritage’s discount variable mortgage rate will now drop to 6.35% from 6.6% and the standard variable mortgage rate will drop to 6.94%, down from 7.19%. The reductions will be effective from December 16. CEO John Minz says passing on the full interest rate reduction is the right thing to do by its members. “With Christmas just around the corner, many of our members are facing added expenses. Passing on the full RBA cut on our variable home loan rates will help make their festive season just that little bit less stressful.” Minz says the rate cut was a concrete demonstration that the change of name to Heritage Bank last week (from Heritage Building Society) had not changed Heritage’s focus on the interests of members. “We remain absolutely committed to ensuring we deliver the best value possible to members,” he says. “At Heritage, we’re not about generating the biggest profits we can. We’re all about the best interests of our members and the communities in which they live.”
 
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Heritage Bank third lender to pass on full RBA rate cut

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ME Bank has joined Bank of Queensland in vowing to pass the RBA’s full 25-basis-point rate cut onto customers.
“As part of our commitment to looking after customers over the long term and offering a fairer banking alternative, ME Bank has decided to pass on the full 0.25% p.a. reduction to our customers,” says Jamie McPhee, ME Bank’s chief executive officer.
The cut will mean the bank’s standard variable rate will drop to 6.74% from 6.99% per year.
“ME Bank remains committed to passing on the full benefits of the RBA’s rate cut to our customers – just as we did in November, because we believe everyone deserves a fairer deal.
"It’s high time the Big Four return their focus to the stakeholders that matter most – customers – and help relieve their financial burden wherever possible,” McPhee adds.
Customers with a $300,000 home loan will save $50 per month thanks to the cut.
 
 
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cknowlton-QnEa6ntUYP

ME Bank passes on full rate cut

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Brisbane-based Bank of Queensland is the first significant lender to announce that it will pass on the full 25 basis points cut announced by the Reserve Bank earlier today.
The bank will cut its standard variable home loan by 25 basis points as of December 16, bringing its standard variable rate home loan to 7.36% per year. 
BOQ chef executive and managing director Stuart Grimshaw says with Christmas just weeks away, giving customers this additional relief just makes sense. 
“Passing on the full 25-basis-point cut was the right thing to do last month and it’s the right thing to do this month,” he says.
However, he hinted that passing on full rate cuts in the future may be a challenge. 
“Our cost of funds do continue to increase so pricing remains a balancing act of shareholder and customer interests, but with Christmas less than three weeks away, we know our customers will appreciate the extra dollars in their wallet as they head into Christmas celebrations and family holidays,” he says.
 
 
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Bank of Queensland the first to pass on rate cut

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The decision by <a href="/news">Smartline and the Mortgage Gallery</a> to merge their businesses has created a new group to take on some of the biggest and most established mortgage broking franchises. Here’s a rundown of some of the biggest players in the market:
414
The number of <a href="/news">Mortgage Choice</a> franchises
350
The number of <a href="https://www.propertyobserver.com.au/showcase/wayne-ormond-s-refund-home-loans-owes-creditors-millions-as-relations-with-franchisees-turn-sour/2011111652384">Refund Home Loan franchisees</a> (currently in administration)
265
The number of ANZ Mobile Lenders
240
The number of franchises in the newly merged <a href="/news">Smartline and Mortgage Gallery</a> business
140
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=www.propertyobserver.com.au+john+symond&amp;source=web&amp;cd=1&amp;ved=0CB0QFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Fnow-may-be-the-time-to-fix-your-mortgage-john-symond&amp;ei=qz_cTrKjMOmZiQfhwtnCDQ&amp;usg=AFQjCNHjpyH2MZmeozKA1YWVh9g_Cl3rOg&amp;sig2=GGuHM2NLTpm5yMtPjYkdYg">John Symond’s</a> Aussie Home Loans stores
80
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=yellow+brick+road+property+observer&amp;source=web&amp;cd=1&amp;ved=0CC4QFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Findustry-news%2Fthe-apprentice-saved-yellow-brick-road-%2450-million-mark-bouris%2F2011112852573&amp;ei=YD_cTrquAYaviQf35b34DQ&amp;usg=AFQjCNG3SW_rSiEmynkfbos-YFRFz11ByA&amp;sig2=cygdz4IzX34ksMQO3WYU1g">Yellow Brick Road</a> branches
74
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=www.propertyobserver.com.au%20rams&amp;source=web&amp;cd=1&amp;ved=0CBwQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Frams-undercuts-all-major-banks&amp;ei=wj_cTsmXOcePiAeXpJTpDQ&amp;usg=AFQjCNEWrjwU0c4_PqClsVGlidZ8WAVjxA&amp;sig2=XnUCfavvB8o1izwrA13f5w">Rams Home Loans</a> centres
50
The number of LJ Hooker Financial Services offices
40
The number of Mortgage House branches
21
 
The number of Club Finance franchises
17
The number of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=resi%20mortgage%20property%20observer&amp;source=web&amp;cd=1&amp;ved=0CFgQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fmortgages%2Fmortgage-wars-not-always-good-for-borrowers-resi&amp;ei=3D_cTtXeIOutiQetlLXtDQ&amp;usg=AFQjCNE0l2m9u_rb3jK3v8VMBDHaX-65Hg&amp;sig2=PebdY6gmR7O_42psu8Y1zw">Resi Mortgage</a> branches
Note: Numbers indicate stores, branches and offices (not individual brokers) calculated based on website listings.
 
 
 
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