Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Rba Insights

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At their May meeting, the RBA board noted that housing borrowers loan payment deferrals have seen a take-up rate of around 10 per cent.
However, they did note there were many other borrowers maintaining mortgage payments in excess of their required minimum payments.
RBA Governor Philip Lowe said the sharp decline in economic activity was expected to dampen the demand for borrowing from businesses and households for some time, although added that the Australian banking system remained resilient with its strong capital and liquidity buffers.
"[The banks are] helping the economy traverse this difficult period," Lowe said.
"Banks had reduced housing interest rates to record lows.
"Members observed that a large share of the monetary policy easing since May 2019 had been passed through to variable mortgage rates, and advertised fixed mortgage rates had declined even further over recent months.
"Banks had also offered housing borrowers loan payment deferrals for up to six months", Lowe added.
Lowe touched on business borrowers too, with interest rates also lowered substantially since mid March in light of the bank's policy package, as well as government initiatives to support lending to small and medium-sized businesses.
"Interest rates for small businesses had declined most and many of these businesses had been offered loan payment deferrals for up to six months," Lowe said.
"Liaison with banks suggested that around 20 per cent of eligible businesses had taken up this option."
To read the full RBA minutes, click here.
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Mortgage deferrals see a take-up rate of around 10%: RBA

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The RBA kept the official cash rate at 0.25 per cent at today's May meeting.
There's still little suggestion from the board that they will cut rates to 0, or even in to minus.
RBA governor Philip Lowe says the bank will maintain its efforts to keep funding costs low in Australia and credit available to households and businesses.
Lowe suggested there's potential for a stronger economic recovery if there is further substantial progress in containing the coronavirus in the near term and there is a faster return to normal economic activity.
Westpac's chief economist Bill Evans says to expect the rate to stay at 0.25 per cent until at least 2023.
CoreLogic's head of research Tim Lawless says the cash rate setting translates to extremely low mortgage rates. 
"Average variable mortgage rates for owner occupiers are below 3% while investor variable mortgage rates are in the low 3% range", Lawless says, adding that fixed term mortgage rates are even lower. 
"Such a low cost of debt is a key factor that should help to support housing demand as the economy emerges from the COVID-19 hibernation. 
"Additionally we continue to see refinancing related activity across CoreLogic valuation platforms tracking at elevated levels relative to the same time last year as mortgagors seek out the most competitive interest rates available.
The ABS announced this morning that nearly one million people lost their jobs in the last five weeks.
Total employee jobs decreased by 7.5 per cent, while total wages paid by employers decreased by just over eight per cent.
PM Scott Morrison spoke unusually during the RBA announcement, discussing how to get Australian's back to work.
"As long as these restrictions are in place, they are costing our economy some $4 billion a week," Morrison said, adding the government are under no illusion of the pressures.
 
 
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RBA announce May rate hold

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RBA board members noted that conditions in commercial property markets were deteriorating.
This followed several years of commercial property price growth in excess of growth in rents.
Prior to the COVID-19 outbreak, parts of the retail property market were facing challenging conditions owing to weak consumer spending and heightened competition.
Following the outbreak, some retail tenants had been seeking suspensions in rent payments or large rent reductions.
Members noted that the risks in commercial property markets warranted close monitoring.
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Commercial property markets deteriorating: RBA

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The recent economic contraction, uncertainty and social distancing measures were likely to result in very little turnover in the housing market, according to the latest RBA minutes.
"It remained unclear how this would affect residential property prices," the board advised.
Most households with mortgages had significant buffers of accumulated prepayments, with around half of these loans having prepayments that exceeded six months of payments, it noted.
The share of mortgages that may not have a buffer of liquid assets was around 15 per cent.
Measures of household financial stress had been at relatively low levels prior to the COVID-19 outbreak, the latest board minutes had noted.
Members were informed that, at the time of the April meeting, banks had reported that around 5 per cent of households had enquired about deferring mortgage repayments.
It noted that the risks from residential property markets had diminished over the course of the preceding year as increases in housing prices in Sydney and Melbourne had led to a reduction in the share of households at risk of having negative equity on their housing assets.
Nationally, around 3 per cent of mortgages had negative equity positions, with most of these in Western Australia.
The bank noted for households, a large proportion of the monetary policy easing since May 2019 had flowed through to mortgage rates paid. 
Lenders had reduced their interest rates on variable rate housing loans by 25 basis points following the reduction in the cash rate on 3 March. 
"While most lenders did not reduce their standard variable rates following the further cut in the cash rate on 19 March, they had announced a reduction for interest rates on fixed rate loans and measures to defer interest and loan payments for distressed households," the minutes noted.
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Unclear how very little turnover will affect residential property prices: RBA

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The RBA boss says it is highly probable that the severe shocks we are now experiencing will change the mindsets of some people and businesses.
"Even after the restrictions are lifted, it is likely that some of the precautionary behaviour will persist," Dr Philip Lowe said in a speech today <a href="https://www.rba.gov.au/speeches/2020/sp-gov-2020-04-21" target="_blank">giving an economic update</a>.
"In the months ahead, we are likely to lose some businesses, despite best efforts, and some of these businesses will not reopen.
"There will also be a higher level of debt and some households might revaluate the risks of having highly leveraged balance sheets.
"It is also probable that there will be structural changes in the economy.
"We are all learning to work, shop and travel differently.
"Some of these changes will probably stay with us, requiring a rethinking of business models.
"So the crisis will have reverberations through our economy for some time to come," Dr Lowe said.
"On the optimistic side, the restrictions could be lifted more quickly, with the virus being contained.
"In that case, a stronger recovery could be expected, particularly in light of the very large monetary and fiscal support that is in place.
"On the other hand, if the restrictions stay in place longer, or they have to be reimposed, the recovery will be delayed and interrupted.
"In that case, the loss of incomes and jobs would be even more pronounced.
"Whatever the timing of the recovery, when it does come, we should not be expecting that we will return quickly to business as usual.
"Rather, the twin health and economic emergencies that we are experiencing now will cast a shadow over our economy for some time to come."
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RBA says households to revaluate the risks of having highly leveraged balance sheets

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<div>
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At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.50 per cent. The Board took this decision to support the economy as it responds to the global coronavirus outbreak.
The coronavirus has clouded the near-term outlook for the global economy and means that global growth in the first half of 2020 will be lower than earlier expected. Prior to the outbreak, there were signs that the slowdown in the global economy that started in 2018 was coming to an end. It is too early to tell how persistent the effects of the coronavirus will be and at what point the global economy will return to an improving path. Policy measures have been announced in several countries, including China, which will help support growth. Inflation remains low almost everywhere and unemployment rates are at multi-decade lows in many countries.
Long-term government bond yields have fallen to record lows in many countries, including Australia. The Australian dollar has also depreciated further recently and is at its lowest level for many years. In most economies, including the United States, there is an expectation of further monetary stimulus over coming months. Financial markets have been volatile as market participants assess the risks associated with the coronavirus. Australia's financial markets are operating effectively and the Bank will ensure that the Australian financial system has sufficient liquidity.
The coronavirus outbreak overseas is having a significant effect on the Australian economy at present, particularly in the education and travel sectors. The uncertainty that it is creating is also likely to affect domestic spending. As a result, GDP growth in the March quarter is likely to be noticeably weaker than earlier expected. Given the evolving situation, it is difficult to predict how large and long-lasting the effect will be. Once the coronavirus is contained, the Australian economy is expected to return to an improving trend. This outlook is supported by the low level of interest rates, high levels of spending on infrastructure, the lower exchange rate, a positive outlook for the resources sector and expected recoveries in residential construction and household consumption. The Australian Government has also indicated that it will assist areas of the economy most affected by the coronavirus.
The unemployment rate increased in January to 5.3 per cent and has been around 5¼ per cent since April last year. Wages growth remains subdued and is not expected to pick up for some time. A gradual lift in wages growth would be a welcome development and is needed for inflation to be sustainably within the 2–3 per cent target range.
There are further signs of a pick-up in established housing markets, with prices rising in most markets, in some cases quite strongly. Mortgage loan commitments have also picked up, although demand for credit by investors remains subdued. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality. Credit conditions for small and medium-sized businesses remain tight.
The global outbreak of the coronavirus is expected to delay progress in Australia towards full employment and the inflation target. The Board therefore judged that it was appropriate to ease monetary policy further to provide additional support to employment and economic activity. It will continue to monitor developments closely and to assess the implications of the coronavirus for the economy. The Board is prepared to ease monetary policy further to support the Australian economy.
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Rate cut given coronavirus: RBA Governor Philip Lowe's March 2020 meeting statement

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The RBA have cut the official cash rate to a historic low 0.5 per cent at its meeting today.
The cuts come after a turbulent week across the globe, with the Coronavirus wiping billions off global markets.
Graham Cooke, insights manager at Finder, said the cut may not seem unprecedented now, but a few days ago it did.
"What a difference a week makes,” Cooke said.
"To put in perspective how improbable this all is, last Friday, oddsmakers placed the chance of a 25-basis-point cut as less likely than when 15-year-old Coco Gauff beat Serena Williams in the first round at Wimbledon in 2019", Cooke said.
“Nobody saw this coming,” Cooke added.
AMP Capital's chief economist Shane Oliver predicted the cut, and he doesn't believe it will be the only cut in 2020.
“The coronavirus outbreak coming on the back of the bushfires is likely to see the economy go backwards this quarter which in turn is likely to push unemployment up further after the rise to 5.3% seen in January.
“Growth should rebound in the March quarter but given…we are so far from full employment and the inflation target, the RBA is likely to cut the cash rate again in the months ahead," Oliver 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/2020/3/3/Finder%20potential%20savings%20March%20RBA.jpg" alt="">
CoreLogic's head of research Tim Lawless said the result was widely expected considering the downside impact of coronavirus on the Australian economy, as well as household sentiment.
"The cut also comes as inflation remains well below the RBA target range, labour markets hold plenty of slack with an underemployment rate of 8.5 per cent, and wages growth tracks at a near record low of 2.2 per cent.
"Lower interest rates would normally be a catalyst for an acceleration in housing demand and value growth, however there is less certainty that this will add fuel to the housing market in the current economic climate. 
"This is partly because the latest rate cut is unlikely to be fully passed on to mortgage rates. 
Lawless says a low cash rate, coupled with concerns around the global spread of coronavirus, has the potential to spook consumers and drag confidence lower.
"Buying or selling a home is a high commitment decision; if consumer confidence slips further from already low levels, we could see Australian households sit on their hands rather than decide to buy or sell, which would weigh on market activity. 
"Since the rate cutting cycle began in June last year, housing markets have responded swiftly and positively.
"The CoreLogic national home value index increased 7.9% from June to the end of February. 
"Considering the housing sector has been one of the few positive areas of the Australian economy, a slowdown in housing market conditions could add to the downwards pressure on economic growth that is expected over coming months as key industry sectors such as tourism, education and commodity exports are impacted by the coronavirus outbreak.
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RBA cut interest rates at March meeting to record low 0.5 per cent

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The Reserve Bank of Australia have kept the official cash rate at 0.75 per cent at its December meeting today.
The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently. The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the uncertainty. At the same time, in most advanced economies unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken steps to support the economy while continuing to address risks in the financial system.
Interest rates are very low around the world and a number of central banks have eased monetary policy over recent months in response to the downside risks and subdued inflation. Expectations of further monetary easing have generally been scaled back. Financial market sentiment has continued to improve and long-term government bond yields are around record lows in many countries, including Australia. Borrowing rates for both businesses and households are at historically low levels. The Australian dollar is at the lower end of its range over recent times.
After a soft patch in the second half of last year, the Australian economy appears to have reached a gentle turning point. The central scenario is for growth to pick up gradually to around 3 per cent in 2021. The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices and a brighter outlook for the resources sector should all support growth. The main domestic uncertainty continues to be the outlook for consumption, with the sustained period of only modest increases in household disposable income continuing to weigh on consumer spending. Other sources of uncertainty include the effects of the drought and the evolution of the housing construction cycle.
The unemployment rate has been steady at around 5¼ per cent over recent months. It is expected to remain around this level for some time, before gradually declining to a little below 5 per cent in 2021. Wages growth is subdued and is expected to remain at around its current rate for some time yet. A further gradual lift in wages growth would be a welcome development and is needed for inflation to be sustainably within the 2–3 per cent target range. Taken together, recent outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
Inflation is expected to pick up, but to do so only gradually. In both headline and underlying terms, inflation is expected to be close to 2 per cent in 2020 and 2021.
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There are further signs of a turnaround in established housing markets. This is especially so in Sydney and Melbourne, but prices in some other markets have also increased recently. In contrast, new dwelling activity is still declining and growth in housing credit remains low. Demand for credit by investors is subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.
The easing of monetary policy this year is supporting employment and income growth in Australia and a return of inflation to the medium-term target range. The lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries. It has also boosted asset prices, which in time should lead to increased spending, including on residential construction. Lower mortgage rates are also boosting aggregate household disposable income, which, in time, will boost household spending.
Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. The Board also agreed that due to both global and domestic factors, it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.
The statement was released by <a href="https://www.rba.gov.au/media-releases/2019/mr-19-33" target="_blank">the RBA</a>.
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Further signs of property market market turnaround: RBA Governor Philip Lowe's December meeting statement

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Australia's official interest rate isn't likely to go below zero, according to RBA Governor Philip Lowe.
At the Business Economics Dinner in Sydney last night, Lowe said negative rates are "extraordinarily unlikely."
A method used in Europe and Japan, Lowe said the tool is truly unconventional.
"Prior to the financial crisis, it was widely thought that zero was the lower bound for the policy interest rate.
"It was thought that if interest rates went below zero, people would hold their savings in banknotes rather than be charged by their bank to deposit their money.
Lowe said that having examined the international evident, it is not clear that negative interest rates has been a success.
"While negative rates have put downward pressure on exchange rates and long-term bond yields, they have come with other effects too.
"It has become increasingly apparent that negative rates create strains in parts of the banking system that can impair the ability of some banks to provide credit.
"Negative interest rates also create problems for pension funds that need to fund long-term liabilities.
"In addition, there is evidence that they can encourage households to save more and spend less, especially when people are concerned about the possibility of lower income in retirement.
"A move to negative interest rates can also damage confidence in the general economic outlook and make people more cautious.
Policy interest rates have been negative in Denmark, Sweden and Switzerland. Rates have been lowest in Switzerland, at minus ¾ per cent.
The only country outside of Europe that has had negative policy interest rates is Japan, at minus 0.1 per cent.
Lowe said Australia is not in the same situation that has been faced in Europe and Japan.
"Our growth prospects are stronger, our banking system is in much better shape, our demographic profile is better and we have not had a period of deflation. So we are in a much stronger position."
Lowe said low interest rates are not a temporary phenomenon and are "likely to be with us for some time."
The full speech was <a href="https://www.rba.gov.au/speeches/2019/pdf/sp-gov-2019-11-26.pdf" target="_blank">first published here</a>.
 
 
 
 
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Negative interest rates in Australia extraordinarily unlikely: RBA Governor Philip Lowe

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Demand for housing credit by investors remained subdued, the RBA noted in their minutes for the November meeting where they left the official cash rate on hold at a record low 0.75 per cent.
"Despite the stronger-than-expected pick-up in established housing markets, there had been little evidence of a lift in the early stages of residential development activity, RBA Governor Philip Lowe suggested in the minutes.
He added that risks in the near term to growth from dwelling investment were tilted to the downside, although then went on to make mention of the decline in building approvals, down over 20 per cent over the year.
"Liaison with industry participants suggested that the recent improvement in housing market conditions had not yet translated into stronger sales for new housing," Lowe said.
He said that a larger-than-expected contraction in dwelling investment could delay the gradual improvement in GDP growth.
"Members noted that the recent strengthening in housing market conditions would support building activity in time.
"The lagged response to higher housing prices and a period of low building activity had raised the likelihood that dwelling investment would be stronger in the medium term than currently expected."
Lowe cited the increase in housing loan approvals, which had risen strongly since May, largely driven by owner-occupiers.
"Members noted that there was strong competition for borrowers of high credit quality," Lowe said, although added that despite the competition, the pace of growth in housing credit for owner-occupiers had picked up only slightly, while the stock of housing credit for investors had continued to decline a little.
<h1>Rebounding Markets</h1>
There were further mentions of the rebounding Sydney and Melbourne housing markets, with Brisbane now mentioned in the same breathe.
Lowe said conditions in Brisbane had "firmed", although noted housing conditions remained weak in Perth and Darwin.
"In Sydney and Melbourne, housing prices had been on an upward trajectory since June, the number of auctions had increased and auction clearance rates had been at relatively high levels.
<h1>Borrowing Rates</h1>
Lowe said a large share of the recent monetary policy easing had been passed through to mortgage rates, but cited the lack of movement from the banks following the October cut.
"Borrowing rates for households and businesses were at historic lows," Lowe said.
"After passing through most of the June and July cash rate cuts to standard variable mortgage rates (SVRs), financial institutions had passed through less of the October rate cut, bringing the total reduction in SVRs since June to around 60 basis points.
"Strong competition for high-quality borrowers had led to rates for new and refinanced loans being lower than for existing loans.
"In addition, borrowers were continuing to switch from interest-only loans to lower-rate principal-and-interest loans.
"This meant that average outstanding mortgage rates had declined by around 65 basis points since the middle of the year. This process was expected to continue."
 
 
 
 
 
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