Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

Joel Robinson

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 one- and two-bedroom apartments delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Twenty-five years after launching one of Australia’s most visionary and successful masterplanned beach communities - Casuarina on the Northern NSW Tweed Coast - developer Consolidated Properties Group has unveiled plans for an $800 million sister project located 10 kilometres south, at Cudgera Creek near the coastal town of Pottsville.

CPG has taken the wraps off Caldera, a 78-hectare masterplanned village that builds on the legacy of Casuarina and aims to help address Northern NSW’s coastal housing shortage via the delivery of 550 homes built in a sustainable manner and addressing affordability and housing diversity, while also focusing on architectural and ecological merit.

Caldera is being brought to life by the same creative team that delivered Casuarina, led by Consolidated Properties CEO and chairman Don O’Rorke, Hutchinson Builders chairman Scott Hutchinson and renowned urban designer Brian Toyota, of architectural practice Bureau Proberts.

CPG has lodged a rezoning application with Tweed Shire Council for the Caldera site, which has been designated since 1991 as the Dunloe Park Urban Release Area, the final land release area within the Pottsville locality and one of only four remaining growth areas along the entire Tweed coastal strip. Preliminary plans for Caldera feature a 13-hectare retail and commercial precinct at the core of the village, surrounded by meticulously planned residential areas comprising around 550 homesites.

The retail hub will be anchored by a Coles Supermarket and will offer 7000 sqm of retail and 23 commercial lots designed to serve the local community and bring together curated shopping, dining, gym, wellness, childcare, medical and other essential services.

<img alt="Cons prop" data-entity-type="file" data-entity-uuid="fca7dc71-4b71-45b1-bb04-5a60bd7158d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.34.04%E2%80%AFAM.png?VersionId=vAKwIvLuwmTKj6blHJRYIEeXS_8lCgUx" />

The project will create more than 1500 jobs over its development cycle, according to its economic modelling, and significantly address the shortage of employment land in the Tweed.

The residential areas will encourage a sense of community via a cohesive urban design that encourages walking, cycling, enhanced resident connectivity and reduced reliance on cars via bike paths and pedestrian-friendly streets.

Homesites will include a range of options from premium ridge-top homes to affordable housing options, ensuring a community that is inclusive of different income levels and designed to appeal to a wide demographic from baby boomers to families, singles and professionals. Architectural and planting covenants on home building will support the village’s built form and protect its character.

O’Rorke says CPG intends Caldera to be a model project delivered efficiently in a dedicated urban release area and ‘very much for this region and for this time’.

“Our vision for Caldera is to create a modern coastal village with its own unique northern NSW identity,” he said.

“Building on our legacy of Casuarina, 25 years on, this new village is designed to stand apart, offering the future of modern living, balancing the natural beauty of the region with contemporary amenities and convenience.

“Caldera will be more than just a place to live - it will be a welcoming, inclusive coastal village neighbouring Pottsville that invites visitors and embraces new residents. With its strong ties to the land, vibrant lifestyle and sense of place, Caldera will set a new standard for village living in Northern NSW.”

<img alt="CPG" data-entity-type="file" data-entity-uuid="9a5a7cf4-5f76-4ddf-bd05-c8fb77d0a787" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.33.59%E2%80%AFAM.png?VersionId=J1CzCGD7kE7fcAMd41V4pKAf_sI4L5Jv" />

The project’s centrepiece is environmental sustainability, with comprehensive wetlands protection measures and planting of native trees, parklands, village greens and communal grounds to enhance the natural beauty of the area.

CPG will also deliver a developer-funded wastewater treatment plant to ensure zero ocean outflows and provide high quality long-term infrastructure for Tweed Shire.

A key focus is wildlife management planning, including extensive conservation controls for the West Pottsville koala population, aligned with Tweed Shire Council’s Koala Plan of Management and designed to enhance koala habitat connectivity and future population growth.

Caldera will extend the existing koala corridor by connecting koala precincts west of the Pacific Highway with populations in the north and east precincts. A koala underpass will be created under Pottsville Road to complete the connection of this important corridor. Native tree plantings will expand essential koala food sources, while approximately eight kilometres of exclusion fencing will be constructed to safeguard the koalas from urban threats.

The Caldera site is nestled in the hills of Cudgera Creek and benefits from its rich natural surroundings including the Pottsville Wetland, Cudgera Creek Nature Reserve and nearby Pottsville Beach.

It takes its name from the surrounding Tweed Shield Volcano and Caldera, the vast bowl-shaped depression stretching from Byron Bay to the Queensland border that 20 million years ago was the world’s largest shield volcano and which has shaped the region’s striking landscape, with Mount Warning standing as one of its most iconic features.

The development is a joint venture between CPG and Pottsville Development Corporation, which made its first investment in Pottsville more than 45 years ago and is the developer of Black Rocks By the Sea, a masterplanned community now part of the fabric of Pottsville and which was the catalyst for the construction of a bridge across the Pottsville Estuary, providing direct access to the beach.

CPG’s $1.5 billion Casuarina Beach township, 10 kilometres to the north of Caldera, commenced construction in 2000 and has become the model for modern Australian, eco-sensitive beachside development.

Consolidated Properties unveils $800m coastal village Caldera in Casuarina

Home Loan Rates

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The lowest home loan rate in the market has dropped to 1.69 percent at the Greater Bank.

It announced the new market leading rate of 1.69 percent following a cut of 0.20 percent to its 1 year fixed rate for owner occupiers paying principal and interest. 

Canstar editor-at-large and money expert, Effie Zahos says chasing a low rate should be on every homeowners’ radar.

“Interest rates will remain at rock bottom for the next three years, though fixed rates are likely to rise before variable rates do as the longer term bond market starts to anticipate monetary tightening a few years ahead,” Zahos said..

“The move from Greater Bank proves competition is still rampant in the home lending space,” she said. 

UBank is at 1.75 percent followed by Homestar at 1.75 percent.

Ratecity noted Greater Bank borrowers will need to shop around or refix their rate after the first year as the loan reverts to a variable rate of 3.66 per cent. 

Greater Bank home loans are only available for borrowers in NSW, ACT and Queensland. 

RateCity.com.au analysis shows if an owner-occupier with a $400,000 home loan switched from the average existing owner-occupier rate of 3.05 per cent, to this new rate from Greater Bank, they could potentially save $5,039 in the first year, including refinancing costs. 

However, after five years borrowers could be $3,849 worse off, unless they switch or refix their loan.

<img alt="" height="492" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ratecity_cheapest_home_loan.jpg" width="604">

Notes: based on an owner occupier paying principal and interest, switching loans 5 years in to a 30 year home loan with a balance of $400K. Assumes the customer does not refix / refinance after the 1 year fixed rate expires. Refinancing costs include discharge fees but not government fees.

RateCity.com.au data shows 24 lenders have cut 317 home loan rates since 1 January.
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Canstar editor-at-large and money expert, Effie Zahos says chasing a low rate should be on every homeowners’ radar.

jchancellor

Home loan rate hits new record low of 1.69%

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From 1 January to 31 December there were 6,777 cuts to home loans, with an average cut of -0.30%, according to Canstar's database.

It recorded:

<ul>
<li>880 cuts to variable rates for owner occupiers, with an average cut of -0.21%</li>
	<li>2,455 cuts to fixed rates for owner occupiers, with an average cut of -0.33%</li>
	<li>764 cuts to variable rates for investors, with an average cut of -0.21%</li>
	<li>2,678 cuts to fixed rates for investors, with an average cut of -0.32%</li>
</ul>
Over the same period there were 535 home loan rate increases, with an average increase of 0.20%.

On 1st January 2020 the average variable rate for owner occupiers paying principal and interest was 3.73% (80% LVR). Today that rate is 3.32% The lowest variable rate was 2.69% and it is now 1.99% (80% LVR) or 1.77% (60% LVR).

On the 1st January 2020 the average 3-year fixed rate for owner occupiers paying principal and interest was 3.15%. Today the average 3-year fixed rate is 2.30%. The lowest 3-year fixed rate was 2.69% and it is now 1.89%.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2020_home_loan_rate_changes.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="505" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2020_home_loan_rate_changes.jpg?itok=dknBFocG" width="580"></a></figure>Savings interest rates

From 1 January to 31 December Canstar recorded:

<ul>
<li>529 cuts to savings, with an average cut of -0.18%</li>
	<li>262 cuts to regular savings accounts, with an average cut of -0.19% </li>
	<li>267 cuts to bonus savings accounts, with an average cut of -0.17%</li>
</ul>
On 1st January 2020 the average regular savings account rate was 1.12%. Today that rate is 0.43%. The maximum rate was 2.65% and it is now 1.75% (available for 4-months).

On 1st January 2020 the average bonus savings account rate was 1.47%, now just 0.75%. The maximum rate was 2.25% and it is now 1.35%.
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From 1 January to 31 December there were 6,777 cuts to home loans, with an average cut of -0.30%, according to Canstar

urban.com.au

2020 saw 6,777 interest rate cuts across Australia's home loan institutions

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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)
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j.ballantyne1990-6AQqhLzZaK

ME Bank announces July home loan rate cuts

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Heritage Bank are the latest to announce they are cutting rates following the RBA's decision earlier in the month to cut for the first time since August 2016.
Heritage Bank haven't passed on the full rate cut, deciding to cut its variable home loan rates by 20 basis points.
Their Discount Variable home loan rate is now 3.57%, down from 3.77%.
Peter Lock, CEO of Heritage Bank, says the rates remained among the sharpest available in the market place.
He said Heritage had considered the best interests of all its customers, investors as well as borrowers, in coming to the decision.
“We have to think about both depositors and borrowers when we make these decisions.
“A 0.20% reduction in variable rates means our rates remain highly competitive, and strikes the right balance for us and our customers.”
Lock said Heritage’s customer-owned status meant it did not have the deep pockets of the big banks.
“We don’t set out to make massive profits, so our margins are lower than the big banks. In addition the big banks have a funding cost advantage that smaller customer-owned banks don’t enjoy. We continue to actively work with the Government to address this imbalance.  “Despite the imbalance we still have home loan interest rates that as a whole remain lower than those offered by the big banks.”
“We always make decisions to balance the best interests of all our customers at heart, not to maximise profit, so our rates stayed lower through that period.”
Of the big four banks, <a href="/news/cba-announce-full-rate-cut-after-june-rba-meeting">Commonwealth Bank</a> and <a href="/expert-insights/finance/nab-joins-cba-in-full-0-25-rate-cut-to-historic-lows">NAB</a> both passed on the full rate cute, while ANZ <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">passed on 18 basis points</a> and Westpac <a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">passed on 20 basis points</a>.
Demand for fixed loans rising
Despite the declining variable rates across the majority of banks and lenders, it was demand for fixed rate home loans that rose in May.
According to new data from Mortgage Choice, fixed rate home loans rose over May, accounting for 22.47% of all home loans written.
Mortgage Choice CEO Susan Mitchell said over the last 12 months, fixed rates have accounted for 21.81% of all loans written.
"When you consider what has been happening in the market, the increase in demand is hardly surprising," Mitchell said.
<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/2019/6/20/Mortgage%20Choice%20May%20rates.jpg" alt="">
“Lenders on our panel have been aggressively discounting fixed rate home loan products, which has been effective in enticing more borrowers to commit to a fixed term.  “With rates as low as 3.49% p.a*., it’s unsurprising to see an increasing proportion of borrowers choosing to fix.” The data revealed that fixed rate demand was highest in Queensland, where 26% of borrowers opted for this type of home loan. 
This was followed by Western Australia, where 25% of borrowers chose to fix the interest rate on their home loan. Borrowers in Victoria were the least likely to fix, with 15% of borrowers choosing this type of product.   The most popular home loan products in May were ongoing discount Variable Rate loans followed by Basic Variable rates. “For those borrowers who may be considering fixing part or all of their home loan, now could be a good time to do so," Mitchell said.
"Current fixed-rate loan pricing presents good value by long-term standards. 
Mitchell suggested it is good new in particular for first home buyers who are looking to take advantage of government schemes and record low interest rates to enter the property market. 
“While news of low interest rates is certainly going to pique borrower interest, it’s equally important that borrowers remember the interest rate isn’t the only component of a home loan and they should look for the right loan product and features for their short and long-term needs." 
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Rate cuts continue as Heritage Bank pass on 20 basis point cut

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National Australia Bank, Australia's fourth largest bank, has announced it will be changing the special on its base variable rate from 3.69% to 3.87%.
Their shift to retain customers is a reaction to the tighter lending restrictions continuing to impact mortgage applications, which continue to slide.
NAB have shifted focus to maintaining their existing customers, which chief executive Andrew Thorburn said has put the bank in 'unchartered territory."
"The decision to stop chasing new business with aggressive discounts and to reward loyal customers has put the bank in uncharted territory after delivering a result that revealed further deterioration in its net interest margin," Thorburn said.
”The discount for the standard variable rate has continued to go up and up and up and up and so as the housing cycle has slowed that increases the pace and increases the intensity, it’s been a long-term trend and its got worse in the last two or three years."
From Friday 9 November, NAB’s Base Variable Rate Special Offer, which is available for new owner occupier principal and interest customers, will be 3.87%.
The change will only affect new customers taking out this product. This means existing customers will not experience a rate hike. 
From Friday, CBA will now have the lowest ongoing variable rate out of the big four banks.
<img src="https://www.urban.com.au/images/2018/11/5/Nab%20Rates%20Hiked.JPG" alt="">
 
RateCity.com.au research director Sally Tindall said over the last six months NAB has been "a champion of competitive pricing, forcing other lenders to put low rates on the table".
"It is rare to see a bank hike an interest rate but grant immunity to their existing customers. NAB is clearly focused on backing its own customers, over potential new ones," she said.
While NAB has stepped back from low rate loans, HSBC and CBA both cut their owner occupier principal and interest rates, with HSBC now offering 3.59%, and CBA now offering 3.79% for new customers with 70% equity in their home.
 
 
 
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NAB announces variable rate hike for all new customers

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NAB's low home loan rate has been queried as higher than portrayed.
Praised recently as the only big four bank to keep its variable interest rates stable in the recent out of cycle rate hikes, HashChing calculates NAB already had the highest variable rates of the big four.
HashChing's claim was based on the loan rates for each of the big four banks averaged across HashChing’s data from June, July, and August.
Westpac who were slammed for being the first to hike rates out of cycle actually had the lowest rates in the first three months of the fiscal year compared to the other big four banks.
HashChing is an online home loan marketplace.
<img src="https://www.urban.com.au/images/2018/10/17/HashChing%20Graph.JPG" alt="">
Averaged over June, July, and August, NAB had the most expensive interest rates at 3.94%, 22 basis points above Westpac’s 3.72%.
On a $500,000 home loan, this difference amounts to $24,000 over the life of a loan.
The data also showed that with new loans, Westpac was again the best choice based on rates alone.
The worst choice for consumers taking out a new loan was ANZ whose rates were at a full 26 basis points higher than Westpac, ANZ customers would spend an additional $27,000 over the life of a loan.
"It’s not just ironic, it’s audacious for NAB to proudly claim they were rebuilding trust with Australians when in fact they had the highest rates to begin," HashChing CEO Mandeep Sodhi said.
"It’s no wonder faith in the financial system has been eroded.“
"Homeowners are stressed. It’s becoming harder than ever for Australians to refinance their loans. The tightening lending restrictions, a cooling housing market, and out-of-cycle rate hikes have all had a significant impact.”
Mr Sodhi urged consumers to do their research and engage with a mortgage broker in order to navigate the rapidly changing market and get the best offer possible.
He added, “what’s a fraction of a percent worth? Tens of thousands of dollars. That’s why it’s so crucial that homeowners have reputable brokers in their corner. They do the hard work for them and help protect them from extensive losses.”
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NAB have the most expensive home loan rates of the big four: HashChing

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National Australia Bank are electing not to hike their home loan rates and follow the other three of the big four banks.
Westpac raised their variable rates by 14 basis points late last month, <a href="/expert-insights/finance/westpac-is-the-first-of-the-big-four-banks-to-hike-out-of-cycle">the first to hike out of cycle.</a>
Last week <a href="/expert-insights/finance/cba-and-anz-hike-variable-home-loan-rates">ANZ raised their rates by 16 points</a> and were closely followed by Commonwealth Bank, the nation's largest lender, who hiked just 20 minutes later by 15 points.
NAB boss Andrew Thorburn said they need to rebuild the trust of their customers.
"By holding our NAB Standard Variable Rate longer, we help our customers for longer," Thorburn said in his statement.
“By focusing more on our customers, we build trust and advocacy, and this creates a more sustainable business.”
Thorburn said NAB will continue to regularly review its rates and assess whether current market conditions, including funding costs, continue.
Click here <a href="https://www.propertyobserver.com.au/images/2018/9/10/big%204%20rates.jpg" target="_blank">to enlarge.</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/2018/9/10/big%204%20rates.jpg" alt=""> Source: RateCity.com.au
NAB's standard variable rate (SVR) for home loans sits at 5.24 percent.
RateCity.com.au research director Sally Tindall said NAB's announcement was 'exactly what home owners need.'
"NAB has heard the complaints from the government, regularors and most importantly their customers, and has acted," she said.
"It's great to see a bank putting its customers ahead of its profit margins."
New Prime Minister Scott Morrison has taken to Twitter to praise NAB.
"Good call by NAB not to life mortgage rates," he tweeted.
"They seem to get it."
The executive director of the Finance Brokers Association of Australia (FBAA) Peter White said the decision by NAB to stand out from the crowd was "a great step and shows strong support for its 900,000 plus customers."
“I predicted all the majors would follow Westpac when it raised its variable home loan rate less than two weeks ago.
"I am pleased my prediction was wrong.
"Thank you to NAB for bucking the trend."
The decisions by the ANZ and CBA to follow Westpac were as "predictable as they were unnecessary, and their existing customers should be complaining loudly and demanding better," Mr White said.
 
 
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NAB to hold home loan rates despite rival big four hikes

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The Reserve Bank of Australia could cut the official cash rate if banks raised their mortgage rates several times, economist Chris Caton has suggested.
So far this month, Westpac Banking Corporation, ANZ Banking Group and Commonwealth Bank of Australia have raised their mortgage rates by 0.14 to 0.16 percentage points citing increases on offshore funding costs.
The Reserve Bank of Australia has held the official overnight cash rate at 1.5 per cent for 25 months.
Dr Caton, a retired former chief economist with BT Financial group, told the Australian Institute of Superannuation Trustees conference in Cairns could cut the cash rate.
"Of course if the banks raised their variable rates again and again and the Reserve Bank was unhappy with that it would offset that – it would.
"There's no question about that.
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"But at the moment I think they're thinking, 'we're low enough, we've been low enough for long enough, we really don't want to cut any further, there is no case to raise, unemployment's coming down, growth's OK, let's keep it where it is."
Dr Caton said he didn't expect a housing crash," Fairfax Media reported.
Dr Caton said there are no bargains out there for investors in either housing or stocks "in part because interest rates have been as low as they have for as long as they have. But I don't see any risk of any crashes either". 
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RBA could cut official cash rate: Chris Caton

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Lenders have cut honeymoon rates on home loan products to stimulate growth as real estate markets slow.
Three of the top five mortgage lenders are offering discounts of up to 55 basis points for investors and home buyers on introductory rates. 
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<div>Banks with the new discounts include Commonwealth Bank, Westpac Group and Suncorp.</div>
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<div>Westpac is offering cuts of up to 50 basis points and free international trips.</div>
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<div>CBA has announced cuts of up to 30 basis points on its two-year variable rate introductory products covering principal and interest for owner occupiers and investors and interest-only borrowers.</div>
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Suncorp is increasing the discount on its one- and two-year fixed rates by 55 basis points to a headline rate of 3.99 per cent.
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Honeymoon home loans get cheaper

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Nearly half of Australian mortgage holders have experience a rate rise since August 2016, despite no RBA movement, new research from Mozo.com.au has found.
The comparison rate site suggested lenders are hitting existing borrowers with mortgage rate increases to fund compelling offers for new customers.
Their national survey found 44 percent of mortgage holders have a home loan rate above 4 percent, despite the new benchmark for owner occupier rates being under 3.7 percent.
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More than half of the lenders in the Mozo database now offer a rate under 3.70%. 
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Mozo director Kirsty Lamont says many mortgage holders consider the banks offerings to be 'good enough.' 
“By taking out the best mortgage for your needs, you can easily save tens of thousands of dollars over the course of a loan," Lamont said.
"What we're seeing is that many mortgage holders consider the banks offerings to be 'good enough' when really, they're offering their best deals for new customers while hiking rates for existing customers. 
“Whether you’ve had your home loan for one year, or twenty, it pays to check home loan offerings to ensure you’re getting the best deal for your needs. 
"Despite paltry offerings for many existing mortgage-holders, 42% of Australians believe their home loan rate is competitive and only 18% considered making the switch to a new lender.”
Mozo recently compared 525 home loans from 88 financial providers for the <a id="LPlnk936670" href="https://mozo.com.au/expertschoice/best-home-loans#winners">Mozo’s Expert’s Choice Awards</a> to find the most competitive offerings on the market for both owner occupier and investor home loans.
Newcastle Permanent took out home lender of the year while <a id="LPlnk562009" href="http://loans.com.au/">loans.com.au</a> won awards for both low cost, offset and investor home loan.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/23/mozo_winners.jpg" target="_blank">to enlarge.</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/2018/4/23/mozo_winners.jpg" alt="">
Click here for the full list of <a id="LPlnk321404" href="https://mozo.com.au/expertschoice/best-home-loans">Mozo Expert Choice Home Loan</a> award winners.
Comparing loans, the Experts Choice home loan judges found that the potential savings between an average and competitive loan was up to $68,400 based on a typical loan of $350,000 over 30 years.
When it comes to customer satisfaction, the big four banks ranked poorly with 70 percent of mortgage holders feeling dissatisfied about their current mortgage rate. 
Despite this, only 17 percent consider making a switch. Smaller banks fared slightly better with nearly 60% of respondents believing their home loan is competitive.
Only 27 percent of Tasmanians have a rate above 4 percent compared to a whopping 63 percent of mortgage holders from Northern Territory. 
Interestingly, Tasmanians are fiercely loyal to their banks with an overwhelming 91 percent saying they would not consider switching banks.
 Mortgage holders in the 25-34-year-old age bracket were most like to switch with one in four considering a change in provider while only 8 percent of mortgage holders over 65 years consider making the switch.
“With the banks reserving their best and brightest deals for new customers, it’s worth shopping around to secure the best home loan for you. Mozo research shows that there are owner occupier home loans on the market with rates as low as 3.39%,” says Lamont.
 
 
  
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