Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Savings

Buyers interested in Richmond&rsquo;s latest project, Gramercy Terraces, have been advised they may &ldquo;miss out&rdquo; as only two townhouses remain in the successful Lendlease development.

Gramercy Terraces is a new boutique offering composed of freehold three and four-bedroom terrace homes, in the desirable eastern pocket of Richmond.

[smartcode_project:default project_id=95458 project_image_fid=169943]

&ldquo;Enjoy the perfect harmony of inner-city living and leafy tree-lined streets, in a home with refined contemporary finishes inspired by its industrial heritage&rdquo;, the developers said.

The elegant development boasts Miele appliances, artisan tapware, Italian stone, tiles, pavers, and a designer light pendant artistically suspended over an expansive stone kitchen island bench.

[smartcode_project:default project_id=95458 project_image_fid=169940]

Designed by one of Melbourne&rsquo;s most renowned architects, Bates Smart, each terrace has been meticulously designed.

Through spacious floorplans and playful shapes, an abundance of natural light beckons from one space to the next thanks to extensive skylights.

[smartcode_project:default project_id=95458 project_image_fid=169939]

The floating timber central staircase brings warmth into the centre of the home and offers the feeling of unrivalled space.

Families will appreciate the choice of quality education within close range, including Melbourne Girls College, Melbourne High School, St Catherine&rsquo;s School and Hawthorn West Primary School.

[smartcode_project:default project_id=95458 project_image_fid=169944]

Significant stamp duty savings are currently available for eligible buyers.

[smartcode_project_cta: project_id=95458]

Significant stamp duty savings are currently available for eligible buyers. 

max.kwok_55688

Only two townhouses remain at Lendlease’s new Gramercy Terraces in Richmond

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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

The project developer Central Equity are matching the VIC government's $15,000 HomeBuilder grant to save Parkhill buyers $30,000.

That, combined with the potential to save up to $43,000 in stamp duty for owner-occupiers, totals $73,000 of savings. 

[smartcode_project:default project_id=27406]

Investors will benefit from the $24,500 in stamp duty concessions, and Central Equity are offering a rental guarantee for investor purchasers.

One bedroom apartments in the block start from $479,000, or closer to $400,000 for owner-occupiers after the savings boost.

Two bedroom apartments start from $619,000, up to $819,000 when including an extra bathroom and a parking space.

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_melbourne_render_2.jpg" width="1202"></a>

The apartments, many spanning more than 70 sqm, have been designed by Central Equity's inhouse design team. They all have up to 2.7 metre high ceilings, a gourmet kitchen with stone benchtops and Miele appliances and bathrooms with German tapware.

The development has a 6.5 star energy rating, with apartments fitted with double glazed windows.

Residents in the building will have access to a seven day concierge, a rooftop gym and a rooftop garden, complete with barbecues and outdoor seating.
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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

Buyers could save up to $73,000* on a brand new home at West Melbourne's Parkhill thanks to developer Central Equity matching the government grants

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A survey from RateCity.com.au revealed that 42 per cent of Australians are more proactive about how they manage their money since COVID-19.
Young Australians felt especially money-conscious with 61 per cent of 18 to 34-year-olds saying they felt more proactive about managing their money following the pandemic.
The results support recent APRA and RBA findings that Australians are saving, not splurging during COVID-19.
APRA figures from earlier this year show Australians have an extra $64.41 billion more deposits in the bank compared to the start of COVID-19.
Many Australians have used their time in lockdown to clear credit card bills, refinance their home loans and build up a savings buffer, RateCity research director Sally Tindall said.
“For a lot of young Australians, their travel plans have gone up in smoke, their night life has been reigned in and, as a result, they’ve got spare cash to put towards their first car or home.”
RateCity’s tips to be more proactive include setting savings goals, checking rates and clearing high interest debts.
As reductions to JobSeeker and JobKeeper are set to squeeze millions of household budgets, people are advised to get their finances in order now.
“If that’s you, it’s worth talking to a financial counsellor to get your finances into the best shape possible as your income drops,” Tindall said. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Young Aussies are saving not splurging during COVID: RateCity

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The Reserve Bank has left the cash rate on hold today at 0.25 per cent but has left the door open to a future cut.
While home-owners won’t be getting an RBA cut from their bank this month, they can still save thousands by refinancing.
New figures released by the RBA today show the average existing mortgage holder had a home loan rate of 3.19 per cent in August, yet new owner-occupier customers were offered, on average, a rate of just 2.69 per cent.
RateCity.com.au database
<ul type="disc">
<li>Lowest variable rate is 1.89%</li>
<li>Lowest big four bank variable rate is 2.19% (Westpac, intro rate for 2 years, reverts to 2.69%)</li>
<li>87 lenders have at least one fixed or variable rate below 2.50%</li>
<li>12 lenders have at least one fixed or variable rate below 2%</li>
</ul>
RateCity.com.au analysis shows the average owner-occupier would pay $33 less a month with a 0.15 per cent rate cut, but if they refinanced to the RBA average new customer rate their monthly repayments could drop three times as much.
RateCity.com.au research director, Sally Tindall, said mortgage holders don’t need to wait around for the RBA to save money.
“While home-owners didn’t get any reprieve from the RBA this month, they can still make significant savings by shopping around."
“If you’re fortunate enough to still have your regular income and a decent amount of equity in your home, you’re in prime position to capitalise on the refinancing boom."
“According to RBA data, the average existing home loan customer is on a rate that’s half a percent higher than a new customer."
</body></html>

RBA holds but home-owners can triple savings by refinancing: RateCity

Savers squeezed again as ANZ cuts rates

<html><body>
Big four bank standard savings accounts
These accounts have no ongoing terms and conditions. They typically include an introductory period which offers bonus interest for several months, before dropping to a low ongoing rate.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="81">
Bank
</td>
<td valign="bottom" nowrap width="110">
Product Name
</td>
<td valign="bottom" nowrap width="81">
Base Rate
</td>
<td valign="bottom" nowrap width="81">
Intro Rate 
</td>
<td valign="bottom" nowrap width="81">
Max Rate
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
CBA
</td>
<td valign="bottom" nowrap width="110">
Net Bank Saver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.55%
</td>
<td valign="bottom" nowrap width="81">
1.65%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
Westpac
</td>
<td valign="bottom" nowrap width="110">
eSaver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.56%
</td>
<td valign="bottom" nowrap width="81">
1.66%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
NAB
</td>
<td valign="bottom" nowrap width="110">
iSaver
</td>
<td valign="bottom" nowrap width="81">
0.11%
</td>
<td valign="bottom" nowrap width="81">
1.44%
</td>
<td valign="bottom" nowrap width="81">
1.55%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
ANZ
</td>
<td valign="bottom" nowrap width="110">
Online Saver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.50%
</td>
<td valign="bottom" nowrap width="81">
1.60%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
</tbody></table>
Note: Max rate is the base and bonus added together 
Big four bank conditional savings accounts
These accounts require you to meet certain terms and conditions, such as one deposit a month and no withdrawals, in order to qualify for the bonus interest that month.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
Bank
</td>
<td valign="bottom" nowrap>
Product
</td>
<td valign="bottom" nowrap>
Base Rate 
</td>
<td valign="bottom" nowrap>
Bonus Rate 
</td>
<td valign="bottom" nowrap>
Max Rate
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
CBA
</td>
<td valign="bottom" nowrap>
Goal Saver
</td>
<td valign="bottom" nowrap>
0.01%
</td>
<td valign="bottom" nowrap>
0.89%
</td>
<td valign="bottom" nowrap>
0.90%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
Westpac
</td>
<td valign="bottom" nowrap>
Life
</td>
<td valign="bottom" nowrap>
0.45%
</td>
<td valign="bottom" nowrap>
1.20%
</td>
<td valign="bottom" nowrap>
1.65%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
NAB
</td>
<td valign="bottom" nowrap>
Reward Saver
</td>
<td valign="bottom" nowrap>
0.11%
</td>
<td valign="bottom" nowrap>
1.39%
</td>
<td valign="bottom" nowrap>
1.50%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
ANZ
</td>
<td valign="bottom" nowrap>
Progress Saver
</td>
<td valign="bottom" nowrap>
0.01%
</td>
<td valign="bottom" nowrap>
1.59%
</td>
<td valign="bottom" nowrap>
1.60%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
</tbody></table>
Note: Note: Max rate is base and bonus added together
Rates based on balances less than $50,000. The Commonwealth Bank of Australia offers higher rates for larger deposits.
Highest ongoing savings rates on <a href="http://ratecity.com.au/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">RateCity.com.au</a>
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="195">
Bank
</td>
<td nowrap width="91">
Max rate
</td>
<td nowrap width="251">
Conditions
</td>
</tr>
<tr>
<td nowrap width="195">
Xinja
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
Must have linked bank account
</td>
</tr>
<tr>
<td nowrap width="195">
Up
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
4 card purchases from everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
86 400
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $1000 in everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
BOQ
</td>
<td valign="bottom" nowrap width="91">
2.15%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $1000 in everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
UBank
</td>
<td valign="bottom" nowrap width="91">
2.10%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $250 in transaction acct
</td>
</tr>
</tbody></table>
Note: excludes kids savers and introductory rates.
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Best saving rates amongst Australian banks, RateCity reveals 

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EXPERT OBSERVER
When discussing housing affordability, older Australian tend to point to much higher interest rates in the past as being a challenge while for younger Australians, higher property values are seen as the biggest barrier to home ownership. The truth of the matter is it is much more nuanced than this, but on balance I would say it is much harder to break into the housing market now than it has been in the past but it is not due to much higher property values alone. Let’s take a look why.
Although dwelling values have reduced over recent years, housing is in most instances (much) more expensive than it has been in the past. While this is an important consideration it is not the be all and end all.
One of the commonly repeated memes is that interest rates were high in the early 1990s thus making buying a home difficult. What probably made buying a home more difficult at time was the fact that the unemployment rate reached as high as 11.2% compared to the 5.2% today however, once again it is a bit more nuanced than that. When unemployment peaked, the male workforce participation rate was 73.8% which is actually higher than it currently is (70.9%) while the female participation rate was 51.9% compared to the historic high of 61.1% it is currently.
Furthermore, although the unemployment rate peaked at 11.2% in December 1992, the underemployment rate at that time was 7.8% compared to the 8.9% it is currently. Delving a little deeper to look at underemployment for those likely to be saving for a mortgage, the underemployment rate in December 1992 for 15-24 year olds and 25-34 year olds was 13.3% and 6.7% respectively in 1992 compared to 20.7% and 7.2% respectively today.
Although the unemployment rate was much higher in 1992 than it is today, there were fewer females in the workforce. Individuals that had a job were more likely to be getting as many hours as they wanted compared to today’s workers, particularly younger workers, the ones most likely to be trying to save a home deposit. The fact that female participation has lifted so much over recent years also points to the fact that saving for and paying off a mortgage increasingly requires more than one income.
Another factor pointing to entering the housing market being more or just as difficult in the past as it is today is the higher interest rates in the early 1990s. If you had a mortgage at that time that was certainly a somewhat difficult time however, if you were saving for a deposit at that time you were also receiving substantially higher rates of interest on your savings. When standard variable mortgage rates for owner-occupiers hit their peak at 17% between June 1989 and March 1990, 12 month term deposit rates for savers hit as high as 16% but ranged from 14.2% to 16.0%.
Today, standard variable mortgage rates are recorded at 4.94% and 12 month term deposit rates are 1.65%. Both are at historic lows however, the gap between the term deposit and variable mortgage rate is only slightly lower than its historic high and much larger than it was in the past. While a current potential buyer may be looking to save for the mortgage, they aren’t getting the assistance from higher interest rates that they may have in the past.
Inflation is also a key consideration in this discussion. Inflation is at record low levels currently and was much higher in the past. While many people tend to not consider it, higher inflation is typically accompanied by higher interest rates but equally if the cost of everything is increasing more rapidly, it results in the erosion of the real value of a mortgage. Given this, higher inflation should lead to mortgagees being able to pay off their mortgage quicker. While this doesn’t necessarily impact on those people saving for a deposit it does mean that once they take out a mortgage, paying it off is relatively easier with higher inflation than it is with lower inflation.
Saving a deposit for a mortgage has always been difficult. When I first took out a mortgage I was lucky that my parents were able to assist. Equally, when my parents first took out a mortgage in the 1970s they had parental assistance and my children will most likely need assistance from my wife and me.
Unfortunately, not everyone is in a position to receive the same assistance and when you look holistically at the current factors of high property values, insecure employment, low inflation and subsequently low interest rates, I think it is more difficult than it has ever been to save for a mortgage. Supporting this opinion is the fact that the share of households that are renting continues to rise while the share of owner-occupier households both with or without a mortgage continues to fall.
Improving access to potential first home buyers is extremely difficult, with grants tending to push values higher but it is clear something needs to be done. Unfortunately, falling dwelling values have broader repercussions for the economy because so much household wealth is tied to housing. Ideally, after recent value declines we see the housing market show modest gains over the coming years which would continue to gradually improve affordability over time. In saying this, it still doesn’t really address the challenge that saving a deposit continues to be the biggest hurdle and low interest rates look to be in place for a number of years to come.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic.
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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Saving for a mortgage deposit is harder than ever before: CoreLogic's Cameron Kusher

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GUEST OBSERVATION
Since home loan rates have hit new historic lows in July after two 0.25 percentage point rate cuts from the Reserve Bank in the last two months, now is a great time to be a borrower.
Never before have we seen home loan rates this low. 
The property market is showing early signs of recovery, regulators have eased home loan serviceability guidelines and lenders are cutting rates.
The fees involved in refinancing have come down a lot in the last few years and lenders are actively competing for business.
In short, and depending on your personal situation, conditions seem quite attractive for borrowers and home buyers right now.
There are now so many lenders offering variable headline home loan rates under four per cent, it really is the perfect time to borrow.
And there is an increasing number of lenders going under three per cent, which is quite amazing.
The lowest advertised home loan rates currently listed by InfoChoice are:
Variable rate: 2.89 per cent p.a. (comparison rate 2.89 per cent p.a.) from Reduce Home Loan’s <a id="LPlnk67204" href="https://www.infochoice.com.au/product/home-loans/reduce-home-loans/low-rider-variable-56868" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Low Rider Variable</a> loan.
Fixed rate: 2.79 per cent p.a. (comparison rate 4.17 per cent p.a.) from Greater Bank’s <a id="LPlnk850745" href="https://www.infochoice.com.au/product/home-loans/greater-bank-limited/great-rate-fixed-home-loan-13426" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">12 month Fixed</a> Home Loan.
The highest savings rates currently listed by InfoChoice are:
At-call savings accounts: 2.55 per cent p.a. max bonus rate (base rate 1.15 per cent) from <a id="LPlnk827466" href="https://www.infochoice.com.au/product/banking/savings-account/rams/rams-saver-24819" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">RAMS Saver</a> (make $200 deposit &amp; no withdrawals in a month)
12 month Term Deposits: 2.5 per cent p.a. from <a id="LPlnk215455" href="https://www.infochoice.com.au/product/banking/term-deposits/qudos-bank/term-deposits-20011" target="_blank" data-auth="NotApplicable">Qudos Bank</a>.
VADIM TAUBE is the Chief Executive Officer of <a href="https://www.infochoice.com.au" target="_blank">InfoChoice</a>
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It's a great time to be a borrower: InfoChoice's Vadim Taube

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Commonwealth Bank have become the last of the big four to cut their saving rates following the July cut by the RBA.
They've cut the ongoing rate on its Netbank savings account by 0.15%.
After the introductory five months of 2.05 percent, savers will only get 0.15% in interest from then on.
<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/2019/7/24/CBA%20Saver%202.jpg" alt="">
CBA has also cut the bonus rate on its Goalsaver account by up to 0.25 per cent.
<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/2019/7/24/CBA%20saver.jpg" alt="">
RateCity<a href="http://ratecity.com.au/">.</a>com.au research director Sally Tindall said the cuts are another blow for savers.
“CBA has cut some of its savings accounts by just 0.15 per cent while others have been slashed by up to 0.25 percent," Tindall says.
“CBA cut the majority of its variable home loan rates by just 0.19 per cent so it’s disappointing to see some cuts to savings accounts have gone above this.
“Now is an excellent time to review your savings accounts and see if you are getting the most bang for buck in what is a very difficult market for savers.”
The big four have now all cut their saving rates following the RBA cash rate cut.
They are now as follows:
<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/2019/7/24/Big%20Four%20Savings%20Accounts.jpg" alt=""> 
 
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jrobinson-rf4aSBido9

CBA cut Netbank savings rate to 0.15 percent

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ANZ is the last of the big four banks to cut their savings account rates, following the Reserve Bank’s decision to cut the cash rate earlier this month.
They have reduced the rates on their Progress Saver and Online Saver accounts by 0.20% – 2 basis points more than they passed onto their home loan customers on 14 June 2019.
ANZ offer the highest ongoing savings rate out of the big four of 2.20%, while Westpac offers the highest introductory rate of 2.31% for a period of five months.
“Introductory rates have become the white elephant of banking,” RateCity.com.au research director Sally Tindall said. 
“All four big banks have slashed their base rates to just 0.30% interest, when inflation is sitting at 1.3%. That’s a nightmare equation for anyone trying to save."
RateCity.com.au data shows that over 47 banks have dropped their savings rates since the RBA cash rate cut on June 4, including ING, AMP, Bank of Queensland, ME, Suncorp and Bendigo, in addition to the big four banks.
According to RateCity.com.au’s database the average cut to savings account rates by banks who have moved is 0.23%, while the maximum cut on the database is 0.50%.
As a result of all the changes, the average savings account rate is now 1.55%. 
<img src="https://www.urban.com.au/images/2019/6/26/Big%204%20rates%20June%2026.JPG" alt="">
Source: Ratecity.com.au
<img src="https://www.urban.com.au/images/2019/6/26/Top%20savings%20rates%20June%2026.JPG" alt="">
Source: Ratecity.com.au
UBank has not cut this rate since the RBA cash rate change on June 4.
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