<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>
Twenty-five lenders have announced rate cuts for their variable rate home loan customers since the RBA cut the cash rate on Tuesday.
So far eight lenders have confirmed they will be passing on the full 0.25% cut to all their variable rate customers.
Just four of these lenders – RACQ, Athena, Homestar Finance and Newcastle Permanent – passed on the full cut the month before.
The average home loan rate cut to be passed on in July is currently around 0.22%, as several lenders opt to pass on less than they did in June including CBA, NAB, ING, Macquarie Bank and Suncorp.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom">
Lender
</td>
<td valign="bottom">
July rate change
</td>
<td valign="bottom">
Date effective
</td>
<td valign="bottom">
June cut (for owner occupied)
</td>
<td valign="bottom">
New lowest ongoing variable rate
</td>
</tr>
<tr>
<td valign="bottom">
ANZ
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
12-Jul
</td>
<td valign="bottom">
0.18%
</td>
<td valign="bottom">
3.38%
</td>
</tr>
<tr>
<td valign="bottom">
Athena
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.09%
</td>
</tr>
<tr>
<td valign="bottom">
Aussie
</td>
<td valign="bottom">
Up to 0.20%
</td>
<td valign="bottom">
From 18 July
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
TBA
</td>
</tr>
<tr>
<td valign="bottom">
Bank of Melbourne
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
BankSA
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
Bankwest
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.70%
</td>
</tr>
<tr>
<td valign="bottom">
CBA
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.35%
</td>
</tr>
<tr>
<td valign="bottom">
Firstmac
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
26-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.53%
</td>
</tr>
<tr>
<td valign="bottom">
Greater Bank
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
29-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.32%
</td>
</tr>
<tr>
<td valign="bottom">
Homestar Finance
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2.99%
</td>
</tr>
<tr>
<td valign="bottom">
ING
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
18-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.14%
</td>
</tr>
<tr>
<td valign="bottom">
<a id="LPlnk713998" href="http://loans.com.au/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Loans.com.au</a>
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
26-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.03%
</td>
</tr>
<tr>
<td valign="bottom">
Macquarie Bank
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
18-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.24%
</td>
</tr>
<tr>
<td valign="bottom">
ME Bank
</td>
<td valign="bottom">
0.15%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
NAB
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
12-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.35%
</td>
</tr>
<tr>
<td valign="bottom">
Newcastle Permanent
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
29-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.24%
</td>
</tr>
<tr>
<td valign="bottom">
RACQ
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
From 8 July
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.19%
</td>
</tr>
<tr>
<td valign="bottom">
RAMS
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
4.01%
</td>
</tr>
<tr>
<td valign="bottom">
Reduce
</td>
<td valign="bottom">
Up to 0.22%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
2.89%
</td>
</tr>
<tr>
<td valign="bottom">
Resimac
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
24-Jul
</td>
<td valign="bottom">
Various
</td>
<td valign="bottom">
3.21%
</td>
</tr>
<tr>
<td valign="bottom">
St George
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.38%
</td>
</tr>
<tr>
<td valign="bottom">
State Custodians
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
24-Jul
</td>
<td valign="bottom">
N/A
</td>
<td valign="bottom">
N/A
</td>
</tr>
<tr>
<td valign="bottom">
Suncorp
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
19-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.30%
</td>
</tr>
<tr>
<td valign="bottom">
The Mutual
</td>
<td valign="bottom">
Up to 0.20%
</td>
<td valign="bottom">
19-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
TBA
</td>
</tr>
<tr>
<td valign="bottom">
Westpac
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.58% 
</td>
</tr>
</tbody></table>
Keep across the changes with RateCity.com.au’s <a href="https://www.ratecity.com.au/rba-cash-rate." target="_blank">live list of who is cutting</a>, by how much and when.
RateCity.com.au research director Sally Tindall said: “The RBA has made it clear further reductions to the cash rate could be needed, but banks are increasingly finding it difficult to pass these cuts on to their home loan customers in full. 
“They’re juggling depositors, borrowers and shareholders in what is becoming an increasingly difficult equation. 
“A lot of lenders are taking their time to consider their options following this most recent cut.
“If the cash rate falls any further, an increasing number of savings accounts are likely to hit 0.00% interest.”
</body></html>

j.ballantyne1990-6AQqhLzZaK

Rate update: who’s moved since Tuesday’s cash rate cut

<html><body>
EXPERT OBSERVER
Tuesday, 2 July saw the Reserve Bank of Australia ease rates again by 25bp to 1%, the second such easing in consecutive months and to a record low. 
The RBA argues it is needed to “support employment growth and provide greater confidence that inflation will be consistent with the medium-term target”. The RBA is also uncertain about the “trade and technology disputes…affecting investment and means that the risks to the global economy are tilted to the downside”. The RBA is sending a clear message that it wants the economy to tighten up on spare capacity to weather any storms in the future.
However perhaps the underlying reasoning could be the continuing benign economic growth at 1.8% (below trend), subdued consumption due to protracted low wage and income growth and declining house prices (the RBA with APRA did trigger this one through tighter macro-prudential rules). While the RBA acknowledges employment growth has been strong and the participation rate is at a record level, there is still spare capacity with unemployment at 5.2%. Historically full employment has been seen with 5% unemployment, but this metric appears to have now been contracted…is 4% unemployed now deemed the sweet spot?
Underlying Inflation is also deemed below ideal at 1.4% March 2019 (RBA is targeting between 2-3%), with the target to be circa 2% by 2020 and “a little higher after that”.
This is positive for Australian Property overall, but in particular for Office where, with the RBA’s backing, business is encouraged to invest into its future, resulting in stronger employment growth and as such stronger Office space demand across all sub-sector types.
Savills believes Office supply is becoming tight in the major cities and in particular Sydney and Melbourne. Rental growth, tightening vacancy rates and reducing incentives are beginning to bite into spare capacity in the CBD’s and having a flow-on effect into the major suburban CBD’s of North Sydney, Parramatta, St Kilda and some more decentralised locations. Our latest 2Q analysis highlights CBD net face rents are now at post GFC highs across all grades, while yields are at all-time lows.
Brisbane and Perth are also seeing demand driven tightness emerging, with asset price stabilisation and appreciation, helped by vacancy rates falling.
We expect national Office to continue its capital valuation uplift, supported by rent growth and falling vacancies and incentives, which in time will result in further yield compression as investors rebase their investment returns requirements to an Australian environment of low for longer interest rates. Of course Global money has had this funding advantage for some time, which will add to the competition for assets and the further decentralisation of capital to select suburban CBD’s – North Sydney is an example of uplift by proximity.
Industrial Property will also continue to see capital value growth as the second derivative to lower interest rates boosting economic activity and a more confident consumer. Logistics will be the primary beneficiary here, supported by supply constraints around population densities especially relevant to Sydney and Melbourne markets.
From a Retail perspective, the RBA and the Government is wanting to encourage the consumer to spend. The Federal Governments Tax Cut Policy passed yesterday in the lower house and is now to be presented to the Senate will, if passed, give further impetus to the consumer to spend. In the last 5-7 years, the consumer has changed its spending patterns influenced by online e-tailing; low income growth; employment frequency (casual versus full-time) and what we deem the “Canberra Effect” – Governmental policy indecision and political disruption of the last 10 years and its psychological impact on the electorate. We see the RBA move coupled with Tax Cuts as a positive pivotal moment for retailers and Retail asset values going forward.
But it’s worth noting that RBA Governor Lowe stated that “Given the circumstances, the board is prepared to adjust interest rates again if needed to get us closer to full employment and achieve the inflation target”. 
So the RBA would further adjust rates if required! 
The RBA is clearly pursuing a path to pump prime the economy to boost confidence, employment and spending. It is targeting all time low rates to partner with the Federal Governments Tax Cuts Policy, passed yesterday in the lower house and now in the Senates’ hands, to give the electorate circa $158bil back into their hip pocket over the next 5 years. If passed in the Senate, those earning up to $90,000 would get an extra $1,000 back in tax within weeks, that could be spent at your local Mall or on a domestic holiday (The Aussie dollar may constrain the overseas holiday).
In Summary, the RBA’s easing to record lows and if the Senate passes the proposed Tax Cuts Policy with little amendment, Retail could see a much need boost into Christmas which in turn will boost landlord rental streams and stabilise asset values. Industrial, particularly logistics, will also benefit as retail recovers. 
However, Office Property will be the near term winners, as business investment prompts employment growth and the demand for Office space tightens an already limited supply base. Rental growth will continue and further cap rate compression will eventuate, as investment returns requirements allow for further asset purchases.
Phil Montgomerie is the head of research at Savills.
</body></html>

jrobinson-rf4aSBido9

RBA rate cut to record lows is good for property: Savills

<html><body>
The rate cut announced by the Reserve Bank of Australia to 1% is a great boost for the housing market but the NSW government must add its support.
The record low RBA interest rate of 1% sets a framework for a boost to the ailing housing market in New South Wales.
The NSW government must use this once in a generation low interest environment to reactivate the ailing housing market in the state. 
Housing approvals have collapsed over the last year and pre sales have also slowed down for new apartment projects.
The federal level is clearly trying to help with the RBA’s rate cut, as well as APRA’s loosening of credit restrictions on bank loans and the re-election of the Morrison Government has lifted confidence in the housing industry.
The missing ingredient is a signal from the NSW government that they want housing supply to continue.
The NSW government now needs to help kick start the industry by reducing the excessive time it takes for approvals, and by delaying the removal of the cap on local infrastructure contributions that could add $50,000 to the cost of a new home.
There also needs to be clarity on the status of various priority / planned precincts that seem to have got caught up in the rezoning process.
The Minister for Planning, Rob Stokes, and the Minister for Housing, Melinda Pavey, need to develop an action plan that can build on the positive environment that is coming from federal decisions.
They may also need to liaise with the federal Minister for Housing, Michael Sukkar.
The Urban Taskforce is keen to work with all levels of government to re-activate the housing industry in New South Wales.
CHRIS JOHNSON is the Urban Taskforce CEO.
</body></html>

cjohnson-8xfqfuuCSq

Rate cut a boost for housing but NSW government must do more: Chris Johnson

<html><body>
ME Bank has announced it will cut interest rates for all existing variable home loan customers by 0.15%, after passing on the full RBA rate cut in June.
The effective date for the latest reduction in variable home loan rates is 23 July. 
ME bank said, "In setting interest rates ME considers the needs of all stakeholders while ensuring the pricing of all products remains sustainable."
Just hours after the RBA announced they are further dropping the cash rate by 0.25% today, non-bank lenders were slashing rates ahead of the Big four.
<a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut.
Another passing on the full rate cut with rates as low as 2.89% is Reduce Home Loans.
Both Reduce Home Loans and Athena's cuts are effective immediately.
Reduce Home Loans was awarded Australia’s Cheapest Home Loan by Money magazine in 2016, 2017, 2018 and 2019.
Resimac and subsidiary State Custodians have both announced they will be passing on the full July RBA rate cut, effective July 24.
The <a href="/expert-insights/finance/big-four-face-non-bank-lender-rate-cut-blitz">Big Four</a> were slower facing a blitz of quick cuts from non-bank lenders, however they have all announced their proposed rate changes which can be seen below.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-1.JPG" alt="">
(Source: Ratecity.com.au)
</body></html>

ME Bank announces July home loan rate cuts

soliver-smf6LQXgW9

Expect an RBA pause for a few months and then more cuts: Shane Oliver

<html><body>
Although the RBA has cut the cash rate by 0.5 per cent over the last two months, the big four haven't passed on all of this cut to their variable rate home loan customers.
All four banks have decided to keep a portion of the cuts back ranging from Westpac's 0.10 per cent, to the 0.06 per cent from NAB and CBA. 
Finder compiled some key points of interest following the interest rate announcement.
The new standard variable rate for the Big Four is 4.94%, with the new average lowest variable rate for the Big Four being 3.42%.
NAB and CBA have the lowest variable rate of the Big Four.
What the big banks are passing on to their variable rate home loan customers:
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-1.JPG" alt="">
The typical Australian is with a big four bank on a discounted variable rate, according to RateCity.com.au who has calculated what the last two months of rate cuts means for them, based on a $400K loan.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-2.JPG" alt="">
As a result of the latest round of announcements, CBA and NAB are set to have the lowest ongoing variable rates from the big four banks at 3.35 per cent.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-3.JPG" alt="">
ANZ and NAB are passing on this round of rate cuts within the first two weeks while CBA is once more taking three weeks to pass the latest rate cut on to home loan customers.
<ul style="text-align: left;" type="disc">
<li>CBA rates effective 23 July 2019</li>
<li>Westpac rates effective 16 July 2019</li>
<li>NAB rates effective 12 July 2019</li>
<li>ANZ rates effective 12 July 2019</li>
</ul>
Some of the lowest ongoing variable rates following Tuesday’s cut:
<ul style="text-align: left;" type="disc">
<li>Reduce home loans: 2.89%</li>
<li>Homestar Finance: 2.99%</li>
<li>Athena home loans: 3.09%</li>
</ul>
RateCity.com.au research director Sally Tindall said, “The majority of variable rate home owners are set to save over $100 a month as a result of these two cash rate cuts." 
“Any cut to the cash rate is always a double-edge sword as savers brace for another round of deposit rate cuts."
“RateCity.com.au’s average savings rate is 1.51 per cent but this is set to drop below inflation in coming days as this most recent cash rate cut gets passed on,” she concluded.
</body></html>

What the Big 4 cuts mean for mortgage holders: RateCity

<html><body>
Just hours after the RBA announced they are further dropping the cash rate by 0.25% today, non-bank lenders are slashing rates ahead of the Big four.
 <a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut.
Another passing on the full rate cut with rates as low as 2.89% is Reduce Home Loans.
Both Reduce Home Loans and Athena's cuts are effective immediately.
Reduce Home Loans was awarded Australia’s Cheapest Home Loan by Money magazine in 2016, 2017, 2018 and 2019.
Resimac and subsidiary State Custodians have both announced they will be passing on the full July RBA rate cut, effective July 24.
So far <a href="/expert-insights/finance/anz-first-to-cut-rates-again-this-time-the-full-cut">ANZ is the only of the big four</a> to announce they are cutting rates, passing on the full July cut, unlike in June when they only passed on 0.18 basis points.
CBA will reduce its standard variable rate home loans by between 0.19% p.a. and 0.25% p.a.
<ul>
<li>Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a) to a new record low rate of 4.93% p.a.</li>
<li>Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.</li>
<li>Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.</li>
<li>Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.</li>
</ul>
CBA will also introduce a new special term deposit offer, with an extra bonus offer for existing pensioner customers.
At 6.30pm NAB announced it will reduce its variable rate home loans by 0.19% per annum, effective 12 July. 
This is on top of the 0.25% reduction last month by NAB.
Around 6.30pm Westpac announced it was reducing its variable interest rates for home loan customers, including a reduction of 0.2% p.a for owner occupiers and a reduction of 0.3% p.a. for investors with interest only repayments.
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">With the same 0.2% last month</a>, Westpac's combined rate cuts of the past two months ranks as the lowest for home loan customers.
The following interest rate changes will come into effect on July 16 at Westpac:
<ul>
<li>Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.98% p.a. for customers with principal and interest repayments.</li>
<li>Variable residential investment property loan reduced by .20% p.a. to 5.53% p.a. for customers with principal and interest repayments.</li>
<li>Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.57% p.a. for customers with interest only repayments.</li>
<li>Variable residential investment property loan rate reduced by .30% p.a. to 5.79% p.a. for customers with interest only repayments.  </li>
</ul>
“Today’s announcement means our Standard Variable Rate (SVR) will be the lowest it has been in more than 45 years for owner occupier home loan customers with principal and interest repayments,” David Lindberg, Westpac Chief Executive, Consumer said.
</body></html>

Big Four face non-bank lender rate cut blitz

<html><body><div class="text parbase">
<div class="component text ">
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ANZ has announced it will decrease variable interest home loan rates in Australia by 0.25% pa, the full RBA rate cut, effective July 12.
They are <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">once again the first of the Big Four to cut rates</a>, unlike in June when they only passed on a 0.18 basis point reduction, they are passing on the full 0.25 basis points.
The first to call was <a href="/expert-insights/finance/athena-home-loans-match-the-full-rba-cut-again">once again Athena, a non-bank lender</a>, who passed on the whole July cut, reducing rates by 0.25 basis points, which they also did in June.
ANZ may have made this decision following the backlash last month which prompted the federal Treasurer Josh Frydenberg to say, “I think the ANZ has let down its customers.”
“This is deeply disappointing from the ANZ," he stated following ANZ's decision to not pass on the full June RBA rate cut.
ANZ Group Executive, Australia Retail &amp; Commercial, Mark Hand said: “Today we have decided we will reduce variable interest rates for our home loan customers by 0.25% pa. Importantly, we will apply this reduction across all our variable rate home loans.
“We looked at a number of factors before reaching this decision, including business performance, market conditions and the impact on our customers.
“On balance, we believe this is the right decision for our home loan customers and for our business,” Mr Hand said.
The ANZ changes are as follows: 
1. Decrease all variable interest rates for Australian home and residential investment loans by 0.25%pa. 2. For Standard Variable Rate Owner Occupiers paying principal and interest this reduces the Index Rate to 4.93%pa, from 5.18%pa. 3. For Standard Variable Rate Owner Occupiers paying interest only the Index Rate reduces to 5.48%pa, from 5.73% pa.
So far none of the Big Four have indicated as to whether they will reduce rates in line with ANZ.
But at around 6pm CBA announced it will reduce its standard variable rate home loans by between 0.19% p.a. and 0.25% p.a.
<ul>
<li>Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a) to a new record low rate of 4.93% p.a.</li>
<li>Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.</li>
<li>Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.</li>
<li>Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.</li>
</ul>
CBA will also introduce a new special term deposit offer, with an extra bonus offer for existing pensioner customers.
At 6.30 NAB announced it will reduce its variable rate home loans by 0.19% per annum, effective 12 July. 
This is on top of the 0.25% reduction last month by NAB.
Around 6.30pm Westpac announced it was reducing its variable interest rates for home loan customers, including a reduction of 0.20% p.a for owner occupiers and a reduction of 0.30% p.a. for investors with interest only repayments.
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">With the same 0.2% last month</a>, Westpac's combined rate cuts of the past two months ranks as the lowest for home loan customers.
The following interest rate changes will come into effect on Tuesday 16 July 2019 at Westpac.
<ul>
<li>Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.98% p.a. for customers with principal and interest repayments.</li>
<li>Variable residential investment property loan reduced by .20% p.a. to 5.53% p.a. for customers with principal and interest repayments.</li>
<li>Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.57% p.a. for customers with interest only repayments.</li>
<li>Variable residential investment property loan rate reduced by .30% p.a. to 5.79% p.a. for customers with interest only repayments.  </li>
</ul>
“Today’s announcement means our Standard Variable Rate (SVR) will be the lowest it has been in more than 45 years for owner occupier home loan customers with principal and interest repayments,” David Lindberg, Westpac Chief Executive, Consumer said.
 
 
 
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ANZ first to cut rates again, this time the full cut

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Just 10 minutes after the RBA announced they are further dropping the cash rate by 0.25% today, <a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut to both existing and new customers.
Effective immediately, the rate drop brings Athena’s rate down to one of the lowest on the market.
They're offering 3.09% for owner occupiers and 3.49% for investors.
Athena CEO and co-founder, Nathan Walsh said, “the big banks delayed passing on the June RBA rate cut by as much as 21 days, costing Aussie borrowers over $100M. Lenders who failed to pass on the full savings cost customers a further $280M."
Since launching in February this year, Athena claim the average customer switching to them from typical big bank rates is saving more than $50,000 over the life of the loan.
Athena was the first non-bank lender to reduce rates last month as well.
The Sydney based online lender announced a new headline variable rate for owner-occupiers paying principal and interest of 3.34 per cent p.a. within 15 minutes of the June RBA decision.
Athena only entered the home loan market this year.
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Athena home loans match the full RBA cut again 

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At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent. This follows a similar reduction at the Board's June meeting. This easing of monetary policy will support employment growth and provide greater confidence that inflation will be consistent with the medium-term target.
The outlook for the global economy remains reasonable. However, the uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy are tilted to the downside. In most advanced economies, inflation remains subdued, unemployment rates are low and wages growth has picked up. The slowdown in global trade has contributed to slower growth in Asia. In China, the authorities have taken steps to support the economy, while continuing to address risks in the financial system.
Global financial conditions remain accommodative. The persistent downside risks to the global economy combined with subdued inflation have led to expectations of easing of monetary policy by the major central banks. Long-term government bond yields have declined further and are at record lows in a number of countries, including Australia. Bank funding costs in Australia have also declined, with money-market spreads having fully reversed the increases that took place last year. Borrowing rates for both businesses and households are at historically low levels. The Australian dollar is at the low end of its narrow range of recent times.
Over the year to the March quarter, the Australian economy grew at a below-trend 1.8 per cent. Consumption growth has been subdued, weighed down by a protracted period of low income growth and declining housing prices. Increased investment in infrastructure is providing an offset and a pick-up in activity in the resources sector is expected, partly in response to an increase in the prices of Australia's exports. The central scenario for the Australian economy remains reasonable, with growth around trend expected. The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income is expected to support spending.
Employment growth has continued to be strong. Labour force participation is at a record level, the vacancy rate remains high and there are reports of skills shortages in some areas. There has, however, been little inroad into the spare capacity in the labour market recently, with the unemployment rate having risen slightly to 5.2 per cent. The strong employment growth over the past year or so has led to a pick-up in wages growth in the private sector, although overall wages growth remains low. A further gradual lift in wages growth is still expected and this would be a welcome development. Taken together, these labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
Inflation pressures remain subdued across much of the economy. Inflation is still, however, anticipated to pick up, and will be boosted in the June quarter by increases in petrol prices. The central scenario remains for underlying inflation to be around 2 per cent in 2020 and a little higher after that.
Conditions in most housing markets remain soft, although there are some tentative signs that prices are now stabilising in Sydney and Melbourne. Growth in housing credit has also stabilised recently. Demand for credit by investors continues to be subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.
Today's decision to lower the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time.
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