A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Finder.com.au

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The Reserve Bank of Australia (RBA) is likely to cut the cash rate on Tuesday, according to Finder.com.au's RBA Cash Rate Survey.
More than half (55%, 25) of the 45 experts and economists surveyed expect the cash rate to drop to 0.75% on Tuesday. 
Three-quarters (73%, 33) are predicting at least one cut will happen by November.
With three cuts in 2019 now a probability, there is a group of experts (13%, 6) who believe a fourth cut is possible this calendar year.
In fact, five economists expect the rate to go all the way to 0.25% with one predicting we get to 0%.
<img src="https://gallery.mailchimp.com/cc5e9bce699fa1d71a67cf499/images/f1149f38-32a0-4fff-ac24-474dc397b4b8.png" data-imagetype="External"> Graham Cooke, insights manager at Finder, said 2020 could be the year of a negative cash rate, quantitative easing, or potentially both. “As the RBA cuts the cash rate closer to zero, they are slowly diluting their power. An injection of cash may be the only option to stimulate the economy. “This comes on the back of [RBA Governor] Philip Lowe saying last month that ‘unconventional’ options may be used if the economy warranted it, which seems to include both the potential of quantitative easing and a negative rate. “We are looking at uncharted waters for Australia,” Cooke said. <img src="https://gallery.mailchimp.com/cc5e9bce699fa1d71a67cf499/images/b0a1017f-3b4b-44ee-b109-0ee71b7184fb.png" data-imagetype="External"> 
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Over half of economists surveyed predict cash rate cut: Finder

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Sydney is not the most attractive capital city in which to invest your property dollar, according to the latest Finder RBA Cash Rate Survey.
The majority of experts and economists said they would rather invest $500,000 in the likes of Melbourne and Brisbane.
It was an even split, with 27 per cent saying Melbourne and 27 per cent saying Brisbane. Sydney was on a par with Canberra at 14 per cent of participations asked.
Graham Cooke, insights manager at Finder, said the vast majority of economists chose to steer clear of advising investment in Sydney.
“Sydney has traditionally been Australia’s darling in the property market, but it is no longer the belle of the ball," Cooke noted
Which Australian capital city would be the best to invest $500,000 in property?
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 <img src="https://gallery.mailchimp.com/cc5e9bce699fa1d71a67cf499/images/ea8de6ac-a2ff-418e-ad6c-ee4ce4a66e0f.png" width="259" height="294">
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“Prices have just started to recover after falling nearly 15% from the heady days of 2017, but sales volumes are still low and many investors and potential sellers are in a holding pattern.
“While prices fell across the board, the ratio of house prices relative to income is still higher in Sydney than in other cities, which may slow the bounceback somewhat compared to Melbourne and Brisbane.
“On the bright side, both prices and auction clearance rates are slowly heading in the right direction in the Harbour City, but these results indicate that the previous market highs are still a way off,” Cooke said.
Only 45 per cent of experts said the property market had turned a corner and that prices will continue to rise.
A further 41 per cent expected prices to remain at their current level for a while, with only 14 per cent predicting a further drop in prices.
Cooke said the results are a clear indication that recent gains are not the product of a ‘dead-cat bounce’.
“Recent clearance rates and sale prices in Sydney and Melbourne are tentative but positive.”
“Potential first time buyers may not be buying at the bottom of the market, but there is still plenty of value to be had with home loans at record lows,” Cooke said.
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jrobinson-rf4aSBido9

Finder experts favour property investment in Melbourne and Brisbane over Sydney

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Millions of Australians are living with money worries, according to the Finder comparison site.
<a href="https://www.finder.com.au/" target="_blank">Finder</a> research found almost one in five Aussies (19%) are extremely worried about their financial situation while a further 55% admit they are somewhat stressed – that’s a total of 14.5 million Australians who are stressed about their financial situation.
Mortgage and rent top the list of money worries, with more than one in three (35%) admitting housing was their top concern. Energy bills (26%), groceries (21%), council rates (18%), health insurance (17%) and credit card bills (14%) also make the list.
Bessie Hassan, money expert at Finder, said "with one of the highest costs of living in the world, Aussies should be taking every opportunity to cut costs where they can – and this doesn’t have to mean compromising on quality or features".
She described the winners as "the cream of the crop".
Winners who took out multiple categories included household names such as Westpac, American Express and Budget Direct, as well as new disruptors such as Australia’s first digital bank, Up Bank.
UBank’s USaver was announced as Best Savings Account, while Freedom Lend’s Variable Home loan scooped up the Best Owner-Occupier and Best Low Deposit Home Loan categories.
NobleOak was awarded for Best Life Insurance, while Boost’s $30 plan won Best Prepaid Sim (under $40).
Hassan said it was a really exciting time to be a consumer.
The <a href="http://www.finder.com.au/finderawards" target="_blank">full list of winners</a> is available on the Finder website.
<img src="https://www.urban.com.au/images/2019/8/26/Finder%20Awards%202019.JPG" alt="">
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Australia’s top 2019 financial products revealed: Finder

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Australians are in the dark about the current cash rate according to the latest survey from Finder.com.au, Australia’s most visited comparison site.
The official cash rate plummeted to 1.0% in July after the Reserve Bank announced its decision to cut the rate for a second time in 2019.
However, the survey of 1,002 respondents shows 86% – equivalent to 16.7 million Aussies – are oblivious to the new rate despite household mortgage debt sitting at $1.7 billion.
Bessie Hassan, money expert at Finder, said knowing the cash rate is crucial for anyone wanting to get ahead with their mortgage.
“If borrowers fail to keep tabs on cash rate movements, they could be missing out on a golden opportunity to save big money by either negotiating a better rate, or looking elsewhere,” she added.
The research found that the majority of Aussies (56%) think the cash rate is higher than it is, with 13% assuming it to be between 5% - 10%.
One in three (30%) Aussies believe the cash rate to be lower than it is. Just 10% of women and 18% of men could identify the correct cash rate.
Hassan said that economic ignorance is costing Australians.
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The average Aussie is clueless about the cash rate: Finder

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Nearly a third of experts and economists surveyed in Finder.com.au's RBA Cash Rate Survey predict the RBA to bring the official cash rate all the way down to 0.5 percent.
Just over 70% of experts predict the bottom of the cycle at 0.75%.
The numbers are more convincing in favour of a rate cut in July, with 68% tipping a second cash rate cut in as many months.
Graham Cooke, insights manager at Finder, said lenders should be gearing up to get busy with further rate reductions. “The RBA will have its scissors out for the foreseeable future to try to stimulate inflation and reduce unemployment, and lenders should be ready to follow suit. “The heat is on for those banks who only passed on a partial rate cut (less than 25 basis points) after the June rate reduction.
"Doing the right thing by their customers this time around – by passing on a cut in its entirety – could see them redeem themselves,” he said.
“So far, we’ve seen more than 700 variable rate products reduced in June alone, with more than 1,000 rates reduced if you include fixed rate loans. 
Across all of the variable rates Finder compares, the average rate has dropped more than 20 basis points in June. “The winners here are borrowers – they are spoilt for choice with the lowest home loan rates we’ve ever seen,” he said.  Currently, the lowest variable home loan rate on the market is 3.09% from Reduce Home Loans, while some banks (UBank and Greater Bank), are offering a one year fixed rate of 2.99%. 
It was only late last year that nearly 80% of economists thought the next cash rate would be a hike.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/Economists%20RBA%20predictions%20Finder.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/Economists%20RBA%20predictions%20Finder.jpg" alt="">
Finder research suggests two further cuts, the most popular forecast for the rest of 2019, would see a variable rate mortgage holder with a loan of $1 million save $3,538 a year.
“If the cash rate does get to 0.50%, down from 1.50% in May, and your bank were to pass on all of the four rate cuts in full, an average mortgage holder* could be saving nearly $3,000 a year on their mortgage,” Cooke said. “Of course you don’t have to wait around for these cuts to happen – you can go home loan shopping for a better deal anytime.  “It’s a borrower’s market. A new standard has been set with sub-3% home loan rates so compare options to maximise your savings in the long run.” 
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/Finder%20RBA%20mortgage%20savings.jpg" target="_blank">click here</a>.
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Official cash rate on its way to 0.5%, says one third of Finder's RBA Survey experts

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Interest in rock-bottom mortgages skyrocketed in the days following the Reserve Bank of Australia’s (RBA) cash rate cut, according to Finder.com.au.
Finder.com.au said, following the drop to an unprecedented low of 1.25%, borrowers are acting swiftly to take advantage of low-rate loans. Traffic to <a id="LPlnk461607" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=ab42718692&amp;e=58cd8ffd03" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">home loan deals</a> on Finder jumped by 654% in less than 48 hours since the RBA announced the cash rate cut.
Furthermore, interest in variable rates on Finder grew by 564%, while there’s been a 369% spike in those looking to refinance. Graham Cooke, insights manager at Finder, said the uptick shows Aussies are becoming increasingly savvy with their finances. “This historically low rate will open lots of eyes to just how good the current offers are – and that’s the case for variable and fixed rates, alike.
So far, <a href="/expert-insights/finance/what-are-lenders-doing-following-the-june-rba-rate-cut-ratecity">22 lenders have cut rates</a> following the RBA’s decision and all indications are that more lenders will follow suit in the coming weeks. Home loan discounts following rate cut
<img src="https://www.urban.com.au/images/2019/6/6/Finder%20rate%20cuts.JPG" alt="">
While the Big Four all announced a rate discount the day of the RBA's decision, only two – CBA and NAB – will pass on the cut in full.  Many lenders had already reduced their rates in anticipation of the rate drop. 
According to Finder.com.au, in May, 49 lenders reduced rates on 778 different home loan products
Cooke said, "we know the RBA cut the rate in part to help stabilise falling property prices, but many experts are predicting another cut this year, if not two." “Rates have never been this low. If your current home loan has a ‘4’ or a ‘5’ in front of it, you could be getting a much better deal,” he concluded.
<img src="https://www.urban.com.au/images/2019/6/6/Finder%20big%204.JPG" alt="">
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Web searches on rock-bottom home loan rates skyrocketed after RBA rate cut: Finder.com.au

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Over 90% of experts and economists surveyed in Finder.com.au's RBA Cash Rate Survey predict a cut at the RBA's June meeting.
Some 32 out of 35 economists expect a cut, predicting a 25 basis point reduction.
Most economists surveyed predict further cuts, with 60% expecting a bottom rate of 1%, while there were 33% who believe there will be three cuts or more, predicting a bottom cash rate of 0.75% or lower.
Graham Cooke, insights manager at Finder, said the time has come for a cash rate cut. “We can be fairly certain of the direction the cash rate will take in June – the writing is on the wall," Cooke said.
"However, the questions we need to ask are: how much will they cut by, and how many cuts will follow this one?"
The majority (59%) of the experts surveyed predict two cuts this year, however one in five (22%) of respondents agreed with the likes of Westpac that there will be three rate cuts in 2019.
What the Finder experts said. 
Alison Booth, ANU (Decrease): "The Governor of the RBA has more or less announced there will be a fall. It is clear that the RBA were considering it before the election but for political reasons did not, as it would not do to be interpreted as a signal favouring either major party. The economic fundamentals now warrant a small change. Whether or not the banks follow through with a cut in their rates remains to be seen." Andrew Reeve-Parker, NW Advice Pty Limited (Decrease): "Spike in unemployment numbers will give the RBA confidence to move on interest rates. " Ben Udy, Capital Economics (Decrease): "The labour market has now joined the deterioration in the rest of the economy. " Christine Williams, Smarter Property Investing (Hold): "Our employment is steady" Clement Tisdell,  Economist (Decrease): "Statements by the Reserve Bank Governor" David Robertson, Bendigo and Adelaide Bank (Decrease): "Latest jobs data slightly weaker, in contrast to RBA expectations in their SOMP, so (as indicated in Philip Lowe's recent speech) enough reason for some fresh monetary stimulus." Debra Landgrebe, Gateway Bank Limited (Decrease): "This view is based off recent comments by the Governor of the Reserve Bank that indicated a shift towards quantitative easing." Dr Andrew Wilson, My Housing Market (Decrease): "RBA has clearly signalled its intention to cut rates and with its nominated sensitivity measure of unemployment now on the rise is set act.     The release of the ABS GDP data for the March qtr the day following the rate announcement will encourage the Bank to cut to be seen to be acting to stimulate the economy ahead of what is likely to be yet another underwhelming result for the economy. " Geoffrey Harold Kingston, Macquarie University (Decrease): "Reiterating my last response, the RBA should cut by 25 basis points this Tuesday. Breakeven inflation is just 1.2 % pa, &amp; f/t employment growth was negative in the last ABS survey." Jacqueline Dearle, Mortgage Choice (Decrease): "There is no question that cash rate cuts are on the cards this year and there’s enough evidence to suggest that the first rate cut will occur in June.  We have seen some deterioration in the labour market, with the ABS' most recent Labor Force data revealing the unemployment rate grew to 5.2% in April. The stubborn inflation rate is sitting at 1.3%. The combination of these key economic measures suggests a decrease to the cash rate would be appropriate this month.” John Caelli, ME Bank (Decrease): "It’s likely the RBA will cut the cash rate in June due to an ongoing combination of factors, in particular, some weakening in employment growth, weaker GDP data and the below target inflation rate." John Hewson, ANU (Decrease): "Economy slowing faster than they thought" John Rolfe, Elders Home Loans (Decrease): "The RBA announcement this week has confirmed that unemployment sub 5% with low inflation can support at least 50 bps off rate cuts." Jonathan Chancellor, Property Observer (Decrease): "The board has observed the Australian economy has slowed." Leanne Pilkington, Laing+Simmons (Decrease): "The Governor flagged a cut and there’s little point postponing what the RBA deems inevitable. With prices approaching the bottom of the cycle, interest rates potentially declining further, and an easing on lending restrictions, the signs point to the emergence of a buyer’s market in the residential sector." Malcolm Wood, Baillieu (Decrease): "Lowe's speech guided to a rate cut- slowdown, lower inflation, rising unemployment, falling NAIRU and forecast assumes 2 rate cuts" Mark Brimble, Griffith Uni (Hold): "Bias is clearly to the easing, however the RBA may choose to wait for the new financial year for a range of reasons including the finalisation of the budget bills (which get through and which don't) and how geo-political issues play out on the global stage and markets." Mark Crosby, Monash University (Decrease): "RBA likely to cut on back of latest inflation number. Only possible alternative is that they announce a change to the inflation target, but this is unlikely without some more public discussion." Mathew Tiller, LJ Hooker (Decrease): "Given inflation and wages remain stubbornly low, combined with a softer outlook for employment market. We expect the RBA to cut the official cash rate to 1.25% at its June board meeting. This rate cut combined with the return of a Coalition government, APRA easing lending restrictions and the new first home buyer deposit scheme will see confidence return to property markets and in-turn increase transaction activity." Matthew Peter, QIC (Decrease): "The RBA has finally acted in a decisive manner, signalling its intent to cut the official cash rate at its June meeting. It is now incumbent on the RBA to give clear guidance on the future path of monetary policy beyond its June meeting." Michael Witts, ING (Decrease): "Such a move is consistent with the recent comments by the Governor. the economy has the capacity to grow at a stronger rate and lower interest rates will achieve such an outcome." Michael Yardney, Metropole Property Strategists (Decrease): "The RBA has backed itself into a corner. The latest unemployment stats should now force its hand." Nerida Conisbee, REA Group (Decrease): "I've gone against popular opinion and have held off calling a cut until now. I think this month will be it. While there has been a lot of poor economic data coming out, it looked like the RBA were holding on to the low unemployment rate as a sign that things were about to improve. With the unemployment rate ticking up in April, I think this will be enough impetus to make a decision to cut." Nicholas Frappell, ABC Bullion (Decrease): "A slight increase in unemployment and 'underemployment' added to the weak Q1 CPI figure, which was then compounded by a 1.90 pct. fall in the Q1 'construction work done' number. Given that the election is behind us, and the RBA has evidence of both weak inflation and worsening jobs data, the RBA has scope to cut by at least 25 bp in June. " Nicholas Gruen, Lateral Economics (Decrease): "Their last set of minutes made up excuses not to cut during the election campaign. So they'll cut. They should cut by more but I doubt they will." Noel Whittaker, QUT (Hold): "I am probably wrong but I think dropping would be a very bad policy - hope the bank realises that." Peter Boehm, KVB Kunlun (Decrease): "My previous thinking was that interest rates would start coming down during the second half of the year. However, recent events strongly indicate a fall in rates will likely occur sooner than previously thought. Chief among these is the RBA Governor's public announcement that an interest rate cut is on table at the next meeting. That's a pretty obvious indicator of where rates are headed and when. This announcement was predicated on a stuttering economy and the RBA's apparent view that the economy can support an unemployment rate below 5% and low interest rates simultaneously, without causing serious upwards pressure on inflation. Combine this with APRA's relaxation of the minimum 7%  floor when assessing borrowers' capacity to pay, the returned Government's planned reduction in tax rates and calls for increased infrastructure spending, there is a clear expansionary focus which would be supported by reducing interest rates and consequently, the cost of borrowing." Peter Haller, Heritage Bank (Decrease): "With inflation undershooting the target range, credit growth low and unemployment rising, now is the time for the RBA to provide some monetary stimulus." Shane Oliver, AMP Capital (Decrease): "Growth has slowed, inflation has slowed well below target, unemployment looks like it is now starting to rise when it needs to be falling to get inflation back up and the RBA has recognised all of this (and moved to an easing bias)" Stephen Koukoulas, Market Economics (Decrease): "Low inflation and weak economic growth." Sveta Angelopoulos, RMIT University (Decrease): "Given the election results (and thus the policy implications), the proposed changes by APRA and the slight improvement in housing market, this may be an ideal time for a reduced cash rate to have an effective impact on the economy." Tim Nelson, Griffith University (Decrease): "Most recent comments have been aroundunemployment being targeted through expansionary monetary policy without impacting inflation." Tim Reardon, Housing Industry Association (Decrease): "The accelerated downturn in new dwelling construction activity." Other participants: Bill Evans, Westpac (Decrease)
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Over 90% of experts and economists predict cut: Finder's RBA Cash Rate Survey

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Comparison site Finder have found that just under one on five Australians (19%) are interested in buying property amid the recent price falls.
The survey of 2,026 Australians found the property slump had no effect on the purchase decisions of 30% of people, while the remaining 50% are not looking to buy property at this time.
Kate Browne, Finder’s personal finance expert, said savvy Millennials see the downturn as an opportunity to create wealth. “There’s no reason Millennials can’t have their smashed avo and eat it too – especially in this current market,” she said. “But being an opportunist requires planning. Boost your savings and get home loan pre-approval in place so you are ready to snap up a bargain when you see one.”
The survey shows 35% of Australians aged 34-38 believe they have something to gain from recent price drops.
That equates to 1.9 million Gen Ys buoyed by the prospect of a bargain. 
“A housing market slowdown is a fresh start for those who had been priced out of the market,” she said. “At the same time, a lot of investors want to get in while prices are dropping and interest rates are low. “Property is a long term investment and buying during a downturn could put savvy Millennials in a good financial position once the market picks back up.” The research shows just 4% of Baby Boomers are more likely to buy as the major markets cool.
Finder's tips for property buyers
- Future rate hikes
While we’re in a historically low-rate market at present, you should always factor in a buffer of 2-3% on top of your current home loan interest rate to accommodate for future rate hikes. It’s not something everyone thinks about at the time of purchasing property, but it’s a crucial consideration.
- What’s happening in the local area  Consider how close the home is to public transport, schools and shops. Also, check for plans of urbanisation to assess its potential – a new shopping centre, park or increased public transport options could add value to your home. 
- Additional costs  Many first home buyers can get caught up in the overall sale price and forget to take into account all the other costs involved with buying a house. From building inspections, to stamp duty and solicitor fees, there’s plenty to consider – and budget for. Then there’s removalist costs to get your home set up. 
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One in five Australians interested in buying property amid recent price declines: Finder

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Next Tuesday the Reserve Bank of Australia are expected to cut the official cash rate for the first time since mid 2016.
Finder, Australia's most visited comparison website, has seen a huge uptick in first home buyers visiting their site as a result of the expected cut which would see the cash rate drop to 1.25%.
It has sat at 1.5%, a historic low, since August 2016, the last time the rate moved. 
Finder has seen a 55% rise in visitors to first home buyer guides so far this month compared to May 2018.
It’s the biggest spike in visitors to those pages in 12 months, according to Finder. Graham Cooke, insights manager at Finder, says first home buyers may finally get their opportunity to break into the market. 
“There’s a perfect storm brewing for first home buyers. Property prices are dipping, lenders are dropping their rates and a first home buyer’s scheme is on the cards. “After 31 months of no change, all signs are pointing to a cash rate cut next Tuesday. The expected move is causing a flurry of rate drops among lenders, especially on the fixed home loan front.”
Lenders are already lowering their rates, with 40 lenders dropping rates across 333 products in May.
BankWest, UBank, CUA, Greater Bank and ME Bank are among those that have cut rates.
The lowest variable rate on the market comes from Mortgage House's Home Loan Prime - Early Bird Rate Cut Special which is just 3.29%.
TicToc has the lowest fixed rate, offering 3.39% for one year.
Cooke urges property hunters to make sure they consider possible rate hikes down the track.   “While we’re on the verge of a new historically low cash rate, what all borrowers need to consider is that rates will – eventually – go up. With that in mind, you should always factor in a 2-3% buffer on top of your current home loan interest rate to accomodate for future rate hikes if and when they do happen."
 
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First home buyers set to pounce as rate cut looms: Finder

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Nearly three quarters of the experts and economists surveyed in Finder's RBA Cash Rate Survey believe the cash rate will be dropped to 1% by the end of the year.
Of the 40 experts and economists surveyed, 30 (75%) predict a cash rate hold in May.
The experts by and large cited strong employment numbers and the pending Federal election as the main reasons for the hold.
More than 84% of experts believe there will be a cut in the next three months, while 73% predict a cash rate drop to 1% or lower by the end of the year.
It was only six months ago that one in four of the experts believed there would be <a href="/expert-insights/finance/one-in-four-economists-say-no-rate-rise-until-2020-finder">no rate rise until 2020</a>.
Graham Cooke, insights manager at Finder, said the increased prediction for a cut was driven by recently released consumer price index (CPI) numbers and the waning housing market.  “The latest 0% inflation results may have far-reaching implications for our economy. While the results came as a bit of a surprise to our panel, flat inflation will be a huge worry for the RBA, who are aiming to keep inflation between 2% and 3%," Cooke said. “Irrespective of May’s decision, the majority of experts expect at least one cut by August and many expect another cut after that – meaning a cash rate of 1% is in sight."
Economists have put forward (below), the circumstances in the economy that would likely trigger a rate cut.
<img src="https://gallery.mailchimp.com/cc5e9bce699fa1d71a67cf499/images/9d14533f-32fb-4f1d-b20b-f945f6dd5459.png" width="602" height="407">
Cooke said it’s clear that even a small change in the unemployment rate or a further drop in inflation could trigger a cut.
"Despite an imminent rate cute, consumers don’t need to wait for the cash rate to fall to cash in," he added.
“Whether the cash rate is at 1.5% or 1.25%, it’s still as low as we’ve seen in our history and home loans rates are equally at historic lows.”
 <img src="https://gallery.mailchimp.com/cc5e9bce699fa1d71a67cf499/images/cb4b58a6-db91-45ad-a2c2-edfc91df5ca6.png" width="600" height="355">
What the experts said.
Nicholas Frappell, ABC Bullion (Hold): "Although the CPI figures were a surprise, and the case for a cut is evenly balanced, I think the RBA can wait and look for confirmation before deciding to cut in May. Also, automotive fuel costs were the biggest deflationary factor in the March data, and crude prices are more expensive now. Clearly, the RBA's language in April introduced a more dovish emphasis, but given the firm jobs market, the RBA can choose to wait until after the election." Shane Oliver, AMP Capital (Decrease): "Rate cuts were already on the way thanks to slower economic growth and the downturn in the housing cycle, but weaker than expected underlying inflation in the March quarter argues that the RBA should move sooner rather than later." John Hewson, ANU (Decrease): "Getting worried about [the] outlook." Alison Booth, ANU (Hold): "Economic fundamentals do not yet justify a change." Malcolm Wood, Baillieu (Hold): "Despite a strong case for a rate cut, we expect the RBA to avoid political controversy just over a week from the election." David Robertson, Bendigo Bank (Hold): "Very close call, as the inflation report was very weak, but expect they may wait a month or two to see how the jobs data progresses." Ben Udy, Capital Economics (Decrease): "The economic outlook is now weaker than the last time the RBA cut rates and is likely to deteriorate further.” Michael Blythe, CBA (Hold): "Rate cuts unlikely to do much for the inflation or growth outlooks." Tim Moore, Credit Union Australia (Hold): "RBA will shift to an easing bias. Whilst CPI came in below expectations and moving away from the RBA target range, until we see weakness in the employment data we believe the RBA will remain on hold." Trent Wiltshire, Domain (Hold): "Due to weaker than expected inflation in the March quarter, the RBA will shift its commentary to an explicit easing bias, but will hold off from cutting rates this month." John Rolfe, Elders Home Loans (Hold): "Pressure is there for a reduction but with an election in 11 days, I believe the RBA will hold." Debra Landgrebe, Gateway Bank (Hold): "It appears that the market is expecting it, with the softer than expected inflation outcome. However, unemployment data remains stable. A cash rate cut does appear imminent either in May or June." Mark Brimble, Griffith Uni (Hold): "Short term rates have declined and thus the money market may provide liquidity and or Actual rates relieve pressure.  More likely next month and system weakness remains." Alex Joiner, IFM Investors (Hold): "This is the first 'live' meeting for the RBA for some time. The weaker than expected inflation data gives the RBA a trigger to ease policy immediately. Underlying inflation has unambiguously decelerated.  However, the timing of the Federal election does give rise to the prospect of such a move being politicized - which may be awkward for the Bank. Also, the RBA may choose to focus on the labour market in its deliberations and with employment growth still solid and the unemployment rate trending lower this is still progress towards its objectives. The Statement on Monetary Policy will give the RBA the opportunity to make the case for its action. The arguments are finely balanced, and I would not be surprised if the RBA cut rates in May." Michael Witts, ING Bank (Decrease): "The inflation print is a concern for the RBA notwithstanding the positive labour market the RBA will be seeking to reflate the economy. It must be remembered that interest rate changes have a lagged impact on the economy.” Peter Boehm, KVB Kunlun (Hold): "There's no compelling reason to move rates right now although this may be a different story in four to six months time. Moving rates in the month of the Federal election would not appear to be a prudent move because political and economic certainty go hand in hand." Leanne Pilkington, Laing+Simmons (Hold): "It’s as close a call as the RBA has faced in recent times. The March quarter CPI figures were a bit of a shock but we still see the hold pattern as the prudent course. A single rate cut takes time to wash through the system and generate an impact and the economic situation is fluid, particularly given the upcoming election, so leaving rates unchanged for now seems appropriate." Nicholas Gruen, Lateral Economics (Hold): "They may (finally) want to cut what with the disastrous recent inflation numbers, but they may then revive the doctrine that interest rate changes during an election campaign are 'political', something that Glenn Stevens effectively refuted by pointing out that not cutting rates was also political. I think they'll find it (psychologically) easier to sit on their hands for another month." Mathew Tiller, LJ Hooker (Decrease): "Despite the ongoing labour market strength and the looming election, persistently soft inflation data and weakness in housing markets will prompt the RBA to cut rates at its May board meeting." Geoffrey Harold Kingston, Macquarie University (Hold): "The recent dip in inflation will have caught the Bank unawares &amp; it may well try &amp; save face by using the upcoming meeting to signal that it will cut soon." Stephen Koukoulas, Market Economics (Decrease): "Weak economy, low inflation." John Caelli, ME Bank (Hold): "The case for cutting the cash rate has increased significantly, however, we expect the RBA to hold and wait for more data before cutting to a new record low." Michael Yardney, Metropole Property Strategists (Decrease): "In its April minutes the RBA acknowledged that "a rate cut would be appropriate if inflation didn't move any higher and unemployment printed up." In the last months, both inflation and GDP growth must have disappointed the RBA. While unemployment has remained stable, inflation has been falling, being 0% for the last quarter." Mark Crosby, Monash University (Hold): "It is line ball, however I think that the RBA will take the view that a 25 basis point cut won't do much for inflation - they have really wasted their ammunition with the last two cuts. So cutting now just puts them further below the point where conventional monetary policy has any impact." Katrina Ell, Moody's Analytics (Hold): "Need unemployment to consistently head higher before cutting rates. This hasn't happened." Jacqueline Dearle, Mortgage Choice (Hold): "Cutting the cash rate could serve to stimulate the property market. National dwelling values have been consistently trending lower for seventeen months according to CoreLogic. However, history shows us that the RBA does not move the cash rate during an election campaign, so the RBA is likely to hold the cash rate in May. However, a number of factors would make the case for a cut when the board meet again in June or August, should some of the key current factors prevail." Dr Andrew Wilson, My Housing Market (Hold): "Although latest inflation data remains subdued, low inflation in isolation should not be a catalyst to change the interest rate cycle after nearly three years on hold. Early signs of higher wages growth, a continuing strong labour market and indications that recent declines in house prices may now be bottoming out suggest the RBA will remain on the sidelines for another month." Andrew Reeve-Parker, NW Advice Pty Limited (Hold): "The RBA is unlikely to act in an election month." Jonathan Chancellor, Property Observer  (Hold): "The RBA will wait and see the effect of the tax cuts." Matthew Peter, QIC (Decrease): "The drop in inflation in the first quarter is the tipping point for the first RBA rate move since 2016. The RBA has been clear in its intent that if inflation were to falter, rates would be coming down. This is now the case, so there is no longer any hurdle for a rate cut." Noel Whittaker, QUT (Hold): "No point in lowering them - nothing to be gained." Nerida Conisbee, REA Group (Hold): "This is a hard call! Inflation numbers are terrible but jobs still looking ok. Plus there is an election coming up. I’m going with hold but I am not as confident as with my previous calls." Sveta Angelopoulos, School of Economics, Finance and Marketing, RMIT University (Hold):"Although inflation figures point to a potential decrease in the cash rate the RBA may hold off a little longer, waiting for the election outcome (and reaction), as well as the March 2019 National Accounts information." Christine Williams, Smarter Property Investing P/L (Hold): "Due to our Federal election May 18th 2019." Janu Chan, St.George Bank (Hold): "It will be a close call. Low inflation and weak growth outlook suggests a case can be made for a rate cut. However, the ongoing strength of the labour market suggests that the RBA may want to wait to see incoming data unfolds. Recent RBA commentary suggests it may want to reconcile the strength in the labour market and weak economic growth before acting." Brian Parker, Sunsuper (Decrease): "CPI may have been the straw that finally broke the camel's back. Consistent below-target inflation and the likelihood of a softening labour market justify a cut." Jonathan Pain, The Pain Report (Hold): "Too close to the election." Sandy Suardi, University of Wollongong (Hold): "Concern with falling housing prices and possible weakening demand in the real estate sector despite a falling inflation rate." Richard Holden, UNSW Business School (Decrease): "Inflation, or lack thereof." Other participants: Bill Evans, Westpac (Hold) 
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