CDG Group’s landmark Melbourne apartment development, Victoriana, has captured the attention of first home buyers.

According to data from MatterFact, the new data product by Urban.com.au, first home buyers have consistently been the most engaged buyer group, surpassing downsizers and rightsizers in enquiries over the past six months.

Feedback from buyers highlights the quality of the finishes and the development’s prime location as its key attractions.&nbsp;

[smartcode_project:default project_id=1979 project_image_fid=78690]

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a> and completed in 2021, <a href="https://www.urban.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> features cascading terraces and vertical gardens which are designed to harmonise with the surrounding Albert Park Lake and Fawkner Park.

Located on Queens Road, between the two famous parks and just off St Kilda Road, Victoriana comprises 250 one, two, three and four-bedroom apartments across 16 levels.

First home buyers have shown the greatest interest in the two-bedroom apartments, which start at over 70 sqm and feature two bathrooms, a balcony off the open-plan kitchen, living, and dining area, and a master bedroom with an ensuite.

[smartcode_project:default project_id=1979 project_image_fid=300488]

Victoriana also includes an extensive range of amenities that rival those of a luxury hotel.&nbsp;Residents will have access to concierge services, a heated indoor pool, steam room, sauna, state-of-the-art gym, and a lounge and garden terrace with views of the&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3004">Melbourne</a>&nbsp;skyline.&nbsp;

[smartcode_project:default project_id=1979 project_image_fid=78667]

Positioned on the fringe of Melbourne's CBD, Victoriana provides direct access to Albert Park Lake and proximity to St Kilda Road trams and the upcoming Anzac Railway Station.&nbsp;

This combination allows residents to enjoy both vibrant city living and tranquil parkland surroundings, a rare offering for buyers entering the property market.

Nearby attractions include South Melbourne Market, the Royal Botanic Gardens, and Melbourne's vibrant arts precinct.

Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI.

[smartcode_project_cta:default project_id=1979]

Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI

Joel Robinson

First home buyers jump at Victoriana apartments on Melbourne's Albert Park

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>&nbsp;has been granted development approval for Dawn, its fifth stage in its new urban renewal project in Melrose Park.

It will be the first stage which is a joint venture, with&nbsp;Hankyu Hanshin Properties becoming part of the development.

Dawn will&nbsp;comprise six low-rise buildings ranging from six to 10 levels, built around a large central courtyard spanning almost two hectares. It will include 368 one, two and three-bedroom apartments.

Positioned less than 150 metres from <a href="https://www.urban.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> Town Centre, Dawn promotes walkability and maximises direct access to green spaces, lifestyle assets and future transport connections, including the Parramatta Light Rail Stage 2.

Melrose Park Town Centre is set to open at the end of 2026, aligning with when residents of Dawn will begin moving in to provide immediate access to essential services and amenities.

<img alt="Dawn, Stage 5 in Melrose Park" data-entity-type="file" data-entity-uuid="d2ac6e67-74e9-497a-a6c4-a06c560c9ed8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/compressed%20SEKISUI_MELROSE%20PARK_VIEW01_FINAL_REV03.jpg?VersionId=M0PX1Lnej70Wanlhr0G1NBoDIUbfkXoj" />

Alex Grujovski, Project Director, Apartment &amp; Mixed-Use Developments, Sekisui House Australia, said Dawn is&nbsp;a high-quality development that sets the tone for future stages of Melrose Park and reflects Sekisui House’s philosophies of sustainability, community and thoughtful design."

"Dawn represents our unwavering commitment to creating communities that coexist harmoniously with nature, while fostering interactions between people and place,"&nbsp;Grujovski says.

Designed by <a href="https://www.urban.com.au/architects/group-gsa">GroupGSA</a>, Dawn will integrate with its surroundings, featuring precinct views of Central Park and the Western Parklands. It will have secluded rooftop amenities, an internal central courtyard garden, shading devices and link bridges.

Alister Eden, Principal, GroupGSA said Dawn is designed with timeless elegance, sustainability and functionality at its core.

"The materials and layout create a seamless connection between urban living and the surrounding natural environment, offering residents a lifestyle that balances modern convenience with green tranquillity. The architectural design features intricately detailed brickwork at its base, creating a strong visual foundation that reflects the character and domestic qualities of the nearby residential suburbs of Melrose Park and Ermington," Eden says.

“Communal open spaces will offer a diverse range of amenity, from quiet areas for contemplation to open lawns for enjoying the winter sun or safe play spaces for young children. Elevated areas also provide unique perspectives and scenic views of district parks."

<img alt="Dawn, Stage 5 in Melrose Park" data-entity-type="file" data-entity-uuid="689edf1d-8f01-4365-b2ab-c7d8930c309e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/MP%20-%20Courtyard%20BBQ%20Wide%20-%20Rev%20B-min.jpg?VersionId=kuq96WjaRGXLVG7Nrnjboz2_csD66piP" />

Pitched as one of the best inclusions in the fifth stage is Central Park which will feature&nbsp;open spaces, BBQ and picnic areas, children’s play facilities and kilometres of walking tracks. Complimenting these are rooftop community facilities including BBQ areas, seating nooks and relaxation zones, encouraging interactions and a connected community.

Dawn incorporates a range of sustainability initiatives. A dedicated energy network enhances energy efficiency, while rooftop gardens provide green spaces for residents. The masterplan will also see 1,500 mature drought-tolerant native trees planted, along with permanent wetlands to boost biodiversity and rain gardens for on-site water treatment.&nbsp;

App-based energy management systems will be implemented, enabling resource efficiency and sustainable living. The project’s construction will prioritise environmental stewardship, with strategies to reuse excavated materials, capture water for irrigation and minimise reliance on external natural resources.

Construction of Dawn will commence in 2025, with completion anticipated in mid-2027.

Sekisui’s $5 billion Melrose Park project is set to transform into a thriving new community upon completion, significantly enhancing the housing supply in the north-west of Sydney with 5,500 homes, a commercial and retail town centre and extensive parklands.&nbsp;

Sekisui’s $5 billion Melrose Park project is set to transform into a thriving new community upon completion, significantly enhancing the housing supply in the north-west of Sydney with 5,500 homes

Sekisui House Australia approved for Dawn, the latest stage at $5 billion Melrose Park masterplan

Diversified New Zealand developer <a href="https://www.urban.com.au/developers/safari-group">Safari Group</a> has introduced a gateway for investors and homeowners to the "adrenaline capital" of &nbsp;New Zealand, situated in the picturesque suburb of Frankton.

Safari's apartment development, Mountain Oak Apartments, will be located in Frankton’s masterplanned precinct, Remarkables Park, offering a mix of 141 apartments ranging in size from 49 sqm to 249 sqm.

The development includes 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.

Dual-key apartments—comprising two separate residences held under one title—are also available.

Its location ensures residents and visitors are just a short drive from popular slopes like Coronet Peak and Cardrona Alpine Resort.&nbsp;

Additionally, the development capitalises on its proximity to essential facilities, including the airport and extensive retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market.

The historic village of Arrowtown, known for its rich gold rush history and scenic trail network, is also just a 30-minute drive away, offering an alternative destination for history and nature enthusiasts.

<img alt="Safari Group’s Mountain Oak Apartments living area" data-entity-type="file" data-entity-uuid="957d1777-8b2b-420e-8a81-f22b75151b85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Frankton is a burgeoning area located just seven kilometres from Queenstown’s bustling centre. While Queenstown is a popular year-round holiday destination, its busiest season runs from mid-June to mid-September, coinciding with the snow season.

"It peaks all year round, in both winter for skiing and snowboarding, and summer for hiking, cycling, and water sports," said Safari Group Senior Development Manager Josh Van Veen.

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers.

"There is high demand for both tourist and residential living, coupled with a shortage of housing options and limited supply for both renters and home buyers," Van Veen said.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. They are particularly drawn to Queenstown’s ski fields due to their affordability and investment potential.

Unlike Australia, New Zealand does not impose stamp or transfer duty on property purchases, saving Australian buyers a minimum of four per cent compared to similar transactions at home.

Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment operating as visitor accommodation is 7.43 per cent.

"Queenstown properties generally offer good returns on investment, making this an excellent opportunity for investors to either dip their toes into property investment or expand their portfolios," Van Veen said.

<img alt="Safari Group’s Mountain Oak Apartments dining area" data-entity-type="file" data-entity-uuid="b24ce18d-f4e3-4b9e-9a01-a6173cdcd5b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Mountain Oak has been designed with this flexibility in mind, offering buyers multiple options. Buyers can opt for long-term rental management to cater to Queenstown's tourism and hospitality workforce or short-term visitor accommodation management to leverage the region’s thriving tourism market.&nbsp;

Buyers can use either the Safari management service, or find their own management provider - this is not something they have to decide straight away.&nbsp;

The Safari short-term accommodation option includes comprehensive services such as cleaning, administration, and 24/7 on-site guest support, providing a hassle-free investment experience.

For homebuyers seeking a permanent residence, Mountain Oak offers spacious apartments with expansive windows that frame breathtaking views of The Remarkables mountain range.

The apartments feature modern amenities, including electronic key-locked front doors, acoustically treated flooring, and underfloor heating in bathrooms, ensuring secure and comfortable living in the Alps.

Kitchens are equipped with premium Fisher &amp; Paykel and Haier appliances, complemented by luxurious yet durable engineered or porcelain benchtops and splashbacks.&nbsp;

Residents can choose between light and dark interior colour schemes to suit their preferences.

One-bedroom apartments at Mountain Oak start from NZ$639,000 (AU$586,000).

Queenstown’s popularity ensures consistent high demand for short-term visitor accommodations, holiday homes, and residences for long-term tourism workers

Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown

Aurora On Depper, St Lucia: Construction Update

Aurora On Depper, nestled in the prestigious suburb of St Lucia, Queensland, is shaping up as one of the most anticipated townhouse developments in the area. As construction progresses, this boutique project is on track to deliver modern, luxurious homes designed to complement the vibrant lifestyle St Lucia is known for.

In a recent update from Angus Mac of AKAM Constructions and Huw Feeney of Dust Group, we got an inside look at the latest developments on-site. Here’s what’s happening as Aurora On Depper approaches completion:

&lt;p&gt;&lt;iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/YkN_oofa-f4?si=RA3Hv9FYeCPkKicC" title="YouTube video player" width="560"&gt;&lt;/iframe&gt;&lt;/p&gt;

<h3>Project Milestones So Far:</h3>

<ul>
	<li>Townhouses 1–4: Roof installations are complete, with framing, external cladding, and service rough-ins underway.</li>
	<li>Townhouse 5: External cladding is fully installed, doors are fitted, and the team is preparing for interior sheeting.</li>
	<li>Building 2 – Level 1: Windows and doors are installed, insulation is in place, and sheeting work has commenced.</li>
	<li>Building 2 – Level 2: Electrical and plumbing rough-ins are complete, and waterproofing is set to begin next week.</li>
	<li>Exterior Progress: Painting is finished at the back of Building 2, with scaffolding removal planned for late January, marking a significant visual transformation.</li>
</ul>

[smartcode_project:default project_id=145923 project_image_fid=287623]

<h3>Why Aurora On Depper Stands Out</h3>

Architectural Excellence 
Aurora On Depper combines contemporary design with thoughtful layouts, ensuring every townhouse maximises space, light, and comfort.

Location Perks 
Situated in the heart of St Lucia, this development offers unparalleled access to top-tier education, including The University of Queensland, lush green spaces, and a vibrant local dining and shopping scene.

Premium Finishes 
Each townhouse is crafted with meticulous attention to detail, featuring modern interiors, quality materials, and a seamless blend of indoor and outdoor living.

[smartcode_project:default project_id=145923 project_image_fid=287617]

<h3>Completion Timeline</h3>

The development team is focused on cladding and interior works to ensure the project remains on schedule. Buyers can look forward to moving into a completed, polished product that sets a new benchmark for townhome living in St Lucia.

Aurora On Depper represents more than just a property purchase—it’s a lifestyle investment in one of Brisbane’s most desirable suburbs. Whether you’re an owner-occupier or a savvy investor, this project offers an exceptional opportunity to secure a stunning home in an unbeatable location.

[smartcode_project:default project_id=145923 project_image_fid=287615]

Ready to learn more? Stay tuned for future updates and don’t miss your chance to secure your dream home at Aurora On Depper!

[smartcode_project_cta:default project_id=145923]

Watch the video tour of Aurora On Depper, St Lucia's construction update with Angus Mac of AKAM Constructions and Huw Feeney of Dust Group.

Urban Editorial

Aurora On Depper, St Lucia: Construction Update

<h3>R.Iconic: A Lifestyle-First Masterpiece in Melbourne</h3>

When considering purchasing a property at R.Iconic, it’s impossible to overlook the development’s unique blend of luxury, lifestyle, and location. This landmark project by R.Corporation isn’t just a residential offering—it’s a complete lifestyle experience designed for discerning buyers who want it all.

Michael Searle from R.Corporation sat down with Urban.com.au CEO Mike Bird to discuss what makes R.Iconic such an outstanding choice for buyers. Here are the key highlights that capture why this development stands out in Melbourne’s competitive property market.

&lt;p&gt;&lt;iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/lewKdmUUw2s?si=xhuNVHwClEFrKRp1" title="YouTube video player" width="560"&gt;&lt;/iframe&gt;&lt;/p&gt;

<h3>1. Breathtaking, Protected Views</h3>

Step onto the balcony of any R.Iconic residence, and you’ll be greeted by sweeping views of Port Phillip Bay, stretching to the Mornington Peninsula. Unlike many inner-city properties, these views are protected by zoning regulations, ensuring they remain unobstructed for life.

This not only enhances the day-to-day experience for residents but also secures the long-term value of the property—making R.Iconic an investment as stunning as it is practical.

[smartcode_project:default project_id=5234 project_image_fid=215072]

<h3>2. Unmatched Location</h3>

R.Iconic offers the best of Melbourne living. Just 1.5 kilometres from Collins Street, it’s a short tram ride or walk from the city centre. Meanwhile, the beach, South Melbourne Market, and world-class dining are minutes away, creating a perfect balance between urban convenience and beachside tranquillity.

As Michael Searle explains, “You’ve got this sort of inner-city living, but with a beachside feel. You’re close to all the culture, dining, shopping, and sporting events that Melbourne is famous for, while still enjoying a quieter, more relaxed neighbourhood vibe.”

[smartcode_project:default project_id=5234 project_image_fid=215077]

<h3>3. Lifestyle-Enhancing Amenities</h3>

At R.Iconic, luxury goes beyond the walls of each residence. The development boasts a suite of amenities designed to enhance your lifestyle:

<ul>
	<li>A year-round heated pool and sauna</li>
	<li>A fully equipped gymnasium and running track</li>
	<li>A cinema and dining pavilions</li>
	<li>An acre of gardens designed by Paul Bangay on the fifth floor</li>
	<li>A convenient on-site Coles Local and Liquorland</li>
</ul>

For premium residents—those in the penthouses and townhouses—the Horizon Lounge offers an exclusive retreat with 270° views, a full kitchen, and a luxurious space for hosting special occasions.

[smartcode_project:default project_id=5234 project_image_fid=233906]

<h3>Luxury Residences Tailored to You</h3>

R.Iconic offers a range of luxury residences, each designed with sophistication and comfort in mind:

<ul>
	<li>
	Penthouses and Sub-Penthouses 
	These stunning homes, priced between $2.1 million and $6.3 million, offer 140 to nearly 300 square metres of living space. Elegant interiors by David Hicks feature Gaggenau appliances, marble finishes, and sunlit balconies with panoramic views.
	</li>
	<li>
	Townhouses 
	Inspired by Melbourne’s iconic Victorian terraces, these three-level homes offer private street-level entrances, double garages, and the same high-end finishes as the penthouses.
	</li>
</ul>

Each residence is crafted with meticulous attention to detail, from the spacious hallways to the high ceilings and premium finishes.

[smartcode_project:default project_id=5234 project_image_fid=298021]

<h3>A Completed Project You Can Experience</h3>

One of the standout advantages of R.Iconic is that it’s already complete. Buyers can visit the development and experience the quality, layout, and lifestyle firsthand—something that’s often difficult to imagine from renders alone.

As Mike Bird noted during his tour, “The width of the hallways, the height of the ceilings, and the overall design speak to the thoughtfulness and quality of the development. R.Iconic has prioritised buyer needs, delivering a product that truly stands out.”

[smartcode_project_cta:default project_id=5234]

Watch the video interview with Michael Searle from R.Corporation as he discusses what makes R.Iconic such an outstanding choice for buyers. 

R.Iconic: A Lifestyle-First Masterpiece in Melbourne

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

The following is the statement provided by Michele Bullock which can be <a href="https://www.rba.gov.au/media-releases/2023/mr-23-35.html">found here</a>.

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35&nbsp;per&nbsp;cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25&nbsp;per&nbsp;cent.

Last month, the Board increased interest rates by 25&nbsp;basis points, following a period of four months where it had held interest rates steady. This decision reflected the Board’s view that progress in bringing inflation back to the target range of 2&nbsp;to 3&nbsp;per&nbsp;cent was looking slower than earlier forecast. While the economy has been experiencing a period of below-trend growth, it was stronger than expected over the first half of the year. Underlying inflation was higher than expected at the time of the August forecasts, including across a broad range of services. Conditions in the labour market had eased but remained tight. Housing prices were continuing to rise across the country as was the number of new mortgages. Given this, the Board judged that the risk of inflation remaining higher for longer had risen and an increase in interest rates was therefore warranted to be more assured that inflation would return to target in a reasonable timeframe.

The limited information received on the domestic economy since the November meeting has been broadly in line with expectations. The monthly CPI indicator for October suggested that inflation is continuing to moderate, driven by the goods sector; the inflation update did not, however, provide much more information on services inflation. Overall, measures of inflation expectations remain consistent with the inflation target. Wages growth picked up in the September quarter but this was expected given that it captured the earlier Fair Work Commission decision on award wages. Wages growth is not expected to increase much further and remains consistent with the inflation target, provided productivity growth picks up. Conditions in the labour market also continued to ease gradually, although they remain tight.

Higher interest rates are working to establish a more sustainable balance between aggregate supply and demand in the economy. The impact of the more recent rate rises, including last month's, will continue to flow through the economy. High inflation is weighing on people’s real incomes and household consumption growth is weak, as is dwelling investment. Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labour market.

Returning inflation to target within a reasonable timeframe remains the Board’s priority. High inflation makes life difficult for everyone and damages the functioning of the economy. It erodes the value of savings, hurts household budgets, makes it harder for businesses to plan and invest, and worsens income inequality. And if high inflation were to become entrenched in people’s expectations, it would be much more costly to reduce later, involving even higher interest rates and a larger rise in unemployment. To date, medium-term inflation expectations have been consistent with the inflation target and it is important that this remains the case.

There are still significant uncertainties around the outlook. While there have been encouraging signs on goods inflation abroad, services price inflation has remained persistent and the same could occur in Australia. There also remains a high level of uncertainty around the outlook for the Chinese economy and the implications of the conflicts abroad. Domestically, there are uncertainties regarding the lags in the effect of monetary policy and how firms’ pricing decisions and wages will respond to the slower growth in the economy at a time when the labour market remains tight. The outlook for household consumption also remains uncertain, with many households experiencing a painful squeeze on their finances, while some are benefiting from rising housing prices, substantial savings buffers and higher interest income.

Whether further tightening of monetary policy is required to ensure that inflation returns to target in a reasonable timeframe will depend upon the data and the evolving assessment of risks. In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome.

RBA keeps rates on hold at final meeting of 2023

The full statement from the Reserve Bank of Australia on its November Cup Day rate hike

At its meeting today, the Board decided to raise the cash rate target by 25&nbsp;basis points to 4.35&nbsp;per&nbsp;cent. It also increased the interest rate paid on Exchange Settlement balances by 25&nbsp;basis points to 4.25&nbsp;per&nbsp;cent.

Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly. While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier expected. CPI inflation is now expected to be around 3½&nbsp;per&nbsp;cent by the end of 2024 and at the top of the target range of 2&nbsp;to 3&nbsp;per&nbsp;cent by the end of 2025. The Board judged an increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframe.

The Board had held interest rates steady since June following an increase of 4&nbsp;percentage points since May last year. It had judged that higher interest rates were working to establish a more sustainable balance between supply and demand in the economy. Furthermore, it had noted that the impact of the more recent rate rises would continue to flow through the economy. It had therefore decided that it was appropriate to hold rates steady to provide time to assess the impact of the increase in interest rates so far. In particular, the Board had indicated that it would be paying close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labour market.

Since its August meeting, the Board has received updated information on inflation, the labour market, economic activity and the revised set of forecasts. The weight of this information suggests that the risk of inflation remaining higher for longer has increased. While the economy is experiencing a period of below-trend growth, it has been stronger than expected over the first half of the year. Underlying inflation was higher than expected at the time of the August forecasts, including across a broad range of services. Conditions in the labour market have eased but they remain tight. Housing prices are continuing to rise across the country.

At the same time, high inflation is weighing on people’s real incomes and household consumption growth is weak, as is dwelling investment. Given that the economy is forecast to grow below trend, employment is expected to grow slower than the labour force and the unemployment rate is expected to rise gradually to around 4¼&nbsp;per&nbsp;cent. This is a more moderate increase than previously forecast. Wages growth has picked up over the past year but is still consistent with the inflation target, provided that productivity growth picks up.

Returning inflation to target within a reasonable timeframe remains the Board’s priority. High inflation makes life difficult for everyone and damages the functioning of the economy. It erodes the value of savings, hurts household budgets, makes it harder for businesses to plan and invest, and worsens income inequality. And if high inflation were to become entrenched in people’s expectations, it would be much more costly to reduce later, involving even higher interest rates and a larger rise in unemployment. To date, medium-term inflation expectations have been consistent with the inflation target and it is important that this remains the case.

There are still significant uncertainties around the outlook. Services price inflation has been surprisingly persistent overseas and the same could occur in Australia. There are uncertainties regarding the lags in the effect of monetary policy and how firms’ pricing decisions and wages will respond to the slower growth in the economy at a time when the labour market remains tight. The outlook for household consumption also remains uncertain, with many households experiencing a painful squeeze on their finances, while some are benefiting from rising housing prices, substantial savings buffers and higher interest income. And globally, there remains a high level of uncertainty around the outlook for the Chinese economy and the implications of the conflicts abroad.

Whether further tightening of monetary policy is required to ensure that inflation returns to target in a reasonable timeframe will depend upon the data and the evolving assessment of risks. In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome.

Source: <a href="https://www.rba.gov.au/media-releases/2023/mr-23-30.html">www.rba.gov.au</a>

At its meeting today, the Board decided to raise the cash rate target by 25 basis points to 4.35 per cent

RBA hike interest rates at Cup Day meeting

Property values across the country continued to decline over November, research from property data firm CoreLogic found, but there was a further ease in the speed of the declines.

Dwelling values (which incorporates both houses and units), contracted a further one per cent in November, driven by declines in Hobart (-2 per cent), Canberra (-1.2 per cent), and Sydney (-1 per cent).

Capital city housing markets declined -1.2 per cent, with Brisbane (-2.2 per cent), Hobart (-2 per cent) and Sydney (-1.5 per cent), feeling the declines the hardest.

Capital city units however dropped just -0.6 per cent. Hobart (-1.8 per cent), Sydney (-0.9 per cent) and Canberra (-0.8 per cent) the capital's the most affected in the unit market.

Declines however have continued to soften since August when the national index dropped by -1.6 per cent.

CoreLogic Research Director Tim Lawless said the easing in the rate of decline is mostly emanating from the Sydney and Melbourne markets, but is also evident across many of the smaller capitals and most regional markets.&nbsp;

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 per cent. That has now reduced by a full percentage point to a decline of -1.3 per cent in November," Lawless said.&nbsp;

"In July, Melbourne home values were down -1.5 per cent over the month, with the monthly decline almost halving last month to -0.8 per cent.

“The rate of decline has also eased across the ACT (from a -1.7% fall in August), and is no longer accelerating in Brisbane. Most of the broad rest-of-state markets have also seen the pace of declines decelerate."

Lawless said that it is possible we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls. He does however note that housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.

“There is still the possibility that the pace of declines could reaccelerate, especially if the current rate hiking cycle persists longer than expected.

"Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire."

<h2>Melbourne Market Snapshot</h2>

<ul>
	<li>Unit values across Melbourne dropped just -0.2 per cent across November, the lowest declines the Victorian capital has seen since May. 
	&nbsp;</li>
	<li>It's stark comparison to the housing market, which dropped another -1 per cent.</li>
</ul>

[smartcode_project:default project_id=112174 project_image_fid=199593]

<ul>
	<li>Unit values are now -4.1 per cent down over 2022, almost half the declines felt in the housing market, now -8.1 per cent since the turn of the year. 
	&nbsp;</li>
	<li>The median Melbourne unit value is now $597,000, and houses $759,000.</li>
</ul>

<h2>Sydney Market Snapshot</h2>

<ul>
	<li>Unit values across Sydney dropped just -0.9&nbsp;per cent across November, the third highest of all the capital city markets. 
	&nbsp;</li>
	<li>Sydney houses dropped another -1.5 per cent in November.</li>
</ul>

[smartcode_project:default project_id=22748 project_image_fid=204929]

<ul>
	<li>Unit values are now -8.2 per cent down over 2022, which is double the declines in Melbourne. Houses in the Harbour capital are down -11.9 per cent in the same period. 
	&nbsp;</li>
	<li>The median Sydney unit value is now $781,000, and houses $1,025,000.</li>
</ul>

<h2>Brisbane Market Snapshot</h2>

<ul>
	<li>Brisbane had the biggest divergence between the house and unit market in November 
	&nbsp;</li>
	<li>Unit values across Brisbane dropped just -0.2&nbsp;per cent across November, the third best performing unit market across the capitals. 
	&nbsp;</li>
	<li>Brisbane houses however were the worst performer, down -2.2 per cent</li>
</ul>

[smartcode_project:default project_id=102309 project_image_fid=163977]

<ul>
	<li>The Brisbane unit market has been one of the biggest success stories of 2022, bucking the trend of the downturn. Values are still 7.1 per cent higher than they were at the start of the year. 
	&nbsp;</li>
	<li>The Brisbane house market has also remained resilient, just ticking into negative territory, down -0.8 per cent this year. 
	&nbsp;</li>
	<li>The median Brisbane unit value is now $492,000, and houses $798,000.</li>
</ul>

CoreLogic Research Director Tim Lawless said the easing in the rate of decline is mostly emanating from the Sydney and Melbourne markets

Property downturn continues, but rate of decline softens again: CoreLogic

The RBA has hiked rates for the sixth month in a row, with the Tuesday meeting seeing rates rise by 0.25 per cent.

Three of the big four banks expected a half a percentage point rise, with just Commonwealth Bank predicting the 25 basis point rise.

The official cash rate is now at 2.6 per cent.

The RBA noted in their statement that, as is the case in most countries, inflation in Australia is too high.

"Global factors explain much of this high inflation, but strong domestic demand relative to the ability of the economy to meet that demand is also playing a role," RBA Governor Philip Lowe noted in the announcement.

The RBA predicted a further increase in inflation over the months ahead, before it then declines back toward the two to three per cent range.

"The expected moderation in inflation next year reflects the ongoing resolution of global supply-side problems, recent declines in some commodity prices and the impact of rising interest rates.

"Medium-term inflation expectations remain well anchored, and it is important that this remains the case. The Bank’s central forecast is for CPI inflation to be around 7¾ per cent over 2022, a little above 4 per cent over 2023 and around 3 per cent over 2024."

As for mortgages, Lowe noted that higher inflation and higher interest rates are putting pressure on household budgets, with the full effects of higher interest rates yet to be felt in mortgage payments.

"Consumer confidence has also fallen and housing prices are declining after the earlier large increases.," Lowe suggested.

"Working in the other direction, people are finding jobs, gaining more hours of work and receiving higher wages. Many households have also built up large financial buffers and the saving rate still remains higher than it was before the pandemic."

Graham Cooke, head of consumer research at Finder, said Aussies with a $500,000 mortgage will be paying almost $9,000 more a year in interest compared to just six months ago.

“Australians with a $500,000 mortgage will be forking out $735 more per month compared to what they were paying in April.&nbsp; 
 
“That’s a whopping amount of extra money to pay every month – especially when everyday items like groceries and petrol are skyrocketing in price."

The RBA noted in their statement that, as is the case in most countries, inflation in Australia is too high.



RBA hike interest rates by 0.25 per cent, points to high inflation

Affordability issues appeared to have curbed borrowing activity of first home buyers and owner occupiers, but not investor loans in September, according to the latest Australian Bureau of Statistics data.

The value of new home loans dropped for the second month in a row.

In September, $30 billion of new mortgages were settled, down 1.4 per cent from August, in seasonally-adjusted terms.

Owner-occupier lending dropped 2.7 percent from August.

Investor lending continued to climb, reaching its highest level since April 2015 with $9.62 billion in loans settled in September, up 1.4 per cent month-on-month.

Increased investor loan commitments were seen across most states, with particular strength in Queensland (up 4.2 per cent), South Australia (up 16.4 per cent) and Western Australia (up 7.3 per cent). Smaller rises in investor borrowing were seen in Victoria (up 1.4 per cent), New South Wales (up 0.1 per cent), the Australian Capital Territory (up 1.0 per cent) and Tasmania (up 1.4 per cent). 

For the eighth conscutive month, the number of owner-occupier first home buyer loans fell, down 5.6 per cent in September, to be down 27.1 percent since the January peak.

Ratecity noted Victoria, in lockdown, led the retreat with the number of first home buyer loans dropping 16.7 percent in the month, while NSW dropped by 3.1 percent.

Western Australia fhbs had the largest rise of 5.9 percent, while Queensland rose 2.1 percent and South Australia rose 4.3 percent.

ABS head of finance and wealth, Katherine Keenan, said the average loan size for owner occupiers has grown, but the value of new loan commitments for owner-occupier housing fell for the fourth month in a row, to $20.7 billion in September.

"Affordability constraints are biting in the first home buyer space, with dwelling prices rising by over 20% on an annual basis," the Comm Bank said.

NSW owner occupiers borrowed an average of $750,000 in September which was a record high.

The big banks are all now applying stricter loan criteria on applications as of November 1 given lending requirements imposed by APRA.

There has been positive growth in investors taking on mortgages since October last year

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Investors return to property with six year borrowing high: ABS 

RBA Governor Statement

At its meeting today, the Board decided to:

maintain the cash rate target at 10&nbsp;basis points and the interest rate on Exchange Settlement balances of zero per&nbsp;cent

maintain the target of 10&nbsp;basis points for the April 2024 Australian Government bond

purchase government securities at the rate of $4&nbsp;billion a week and to continue the purchases at this rate until at least mid February 2022.

Prior to the Delta outbreak the Australian economy had considerable momentum. GDP increased by 0.7&nbsp;per&nbsp;cent in the June quarter and by nearly 10&nbsp;per&nbsp;cent over the year. Business investment was picking up and the labour market had strengthened. The unemployment rate had fallen below 5&nbsp;per&nbsp;cent and job vacancies were at a high level.

The recovery in the Australian economy has, however, been interrupted by the Delta outbreak and the associated restrictions on activity. GDP is expected to decline materially in the September quarter and the unemployment rate will move higher over coming months. While the outbreak is affecting most parts of the economy, the impact is uneven, with some areas facing very difficult conditions while others are continuing to grow strongly.

This setback to the economic expansion is expected to be only temporary. The Delta outbreak is expected to delay, but not derail, the recovery. As vaccination rates increase further and restrictions are eased, the economy should bounce back. There is, however, uncertainty about the timing and pace of this bounce-back and it is likely to be slower than that earlier in the year. Much will depend on the health situation and the easing of restrictions on activity. In our central scenario, the economy will be growing again in the December quarter and is expected to be back around its pre-Delta path in the second half of next year.

Notwithstanding the strong economic and labour market outcomes pre-Delta, wage and price pressures remain subdued. Over the year to the June quarter, the Wage Price Index increased by just 1.7&nbsp;per&nbsp;cent.

Housing prices are continuing to rise, although turnover in some markets has declined following the virus outbreak. Housing credit growth has picked up due to stronger demand for credit by both owner-occupiers and investors. Given the environment of rising housing prices and low interest rates, the Bank is monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.

Very accommodative financial conditions will continue to support the recovery of the Australian economy. Borrowing rates are at record lows, sovereign bond yields are at very low levels and the exchange rate has depreciated over recent months. The fiscal responses by the Australian Government and the state and territory governments are also providing welcome assistance in supporting household and business balance sheets.

The Board&#39;s decision to extend the bond purchases at $4&nbsp;billion a week until at least February 2022 reflects the delay in the economic recovery and the increased uncertainty associated with the Delta outbreak. The Board will continue to review the bond purchase program in light of economic conditions and the health situation, and their implications for the expected progress towards full employment and the inflation target. These bond purchases, together with the low level of the cash rate, the yield target and the funding that has been provided under the Term Funding Facility, are providing substantial and ongoing support to the Australian economy.

The Board is committed to maintaining highly supportive monetary conditions to achieve a return to full employment in Australia and inflation consistent with the target. It will not increase the cash rate until actual inflation is sustainably within the 2&nbsp;to 3&nbsp;per&nbsp;cent target range. The central scenario for the economy is that this condition will not be met before 2024. Meeting this condition will require the labour market to be tight enough to generate wages growth that is materially higher than it is currently.

RBA holds rates, turnover declines following the virus outbreak: RBA Governor Philip Lowe's September 2021 meeting statement

The RBA has held interest rates at a record low 0.1 per cent at its September meeting.

RBA Governor Philip Lowe&#39;s said that housing prices are continuing to rise, although turnover in some markets has declined following the virus outbreak.

&quot;Housing credit growth has picked up due to stronger demand for credit by both owner-occupiers and investors, Lowe noted.

&quot;Given the environment of rising housing prices and low interest rates, the Bank is monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.&quot;

In Finder.com.au&#39;s monthly RBA Survey, AMP Capital chief economist Shane Oliver said the lockdown and its hit to the economy&nbsp;has further delayed the time when the effective RBA conditions &ndash; full employment and 3% or more wages growth to sustain 2-3% inflation &ndash; will be met to justify a rate hike.

[smartcode_project:default project_id=103179 project_image_fid=167473]

Commentator Saul Eslake said he takes the RBA at its word&nbsp;when it says it won&#39;t begin tightening monetary policy until the labour market is sufficiently tight to generate wage inflation that&#39;s sufficiently strong to push &#39;underlying&#39; consumer price inflation sustainably into the 2-3% target range.

&quot;While I think that may well be sooner than the RBA&#39;s &lsquo;central case&rsquo; of 2024, I don&#39;t think it will be any earlier than mid-2023,&quot; Eslake says.

Dr Andrew Wilson from My Housing Market says that no change in fundamental economic weakness confirmed again with low wages growth despite robust labour market.

&quot;As usual &ndash; absolutely no plausible case on current data for higher rates over the foreseeable future &ndash; and then there is Covid.&quot;

[smartcode_project:default project_id=102580 project_image_fid=167435]

New research from Finder reveals that over half of&nbsp;homeowners across the country&nbsp;are concerned about interest rates increasing in the near future.

Around15% fear they may not be able to make their repayments once rates creep up.

Finder.com.au&#39;s head of consumer research Graham Cooke says some homeowners may have purchased beyond their means in the midst of the housing market frenzy.

[smartcode_project:default project_id=22308 project_image_fid=75031]

&ldquo;The past 12 months have seen property prices explode as record numbers of Australians have fled into the housing market,&quot; Cooke says.

&ldquo;Low interest rates have encouraged many buyers to purchase earlier than they otherwise might have for fear of missing out.

&ldquo;But not all of them will have budgeted for their monthly repayments to go up if or before the cash rate increases,&rdquo; Cooke said.

Finder analysis reveals the average monthly mortgage payments in Sydney are worth 76% of the average worker&rsquo;s after-tax earnings &ndash; the highest in the country. Melbourne (57%) is not far behind, followed by Canberra (49%) and Hobart (49%). Perth is at the bottom of the list, with the average mortgage costing a more reasonable 35% of average earnings.

RBA Governor Philip Lowe's said that housing prices are continuing to rise, although turnover in some markets has declined following the virus outbreak

RBA leave cash rate on hold at September meeting

The RBA has held interest rates at a record low 0.1 per cent at its August meeting.

RBA Governor Philip Lowe&#39;s comments on the housing market were much the same, noting all markets continuing to strengthen, with prices rising in all major markets.

He did cite an increase in borrowing by investors, and that given the environment of rising housing prices and low interest rates, the Bank is monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.

The experts and economists surveyed in Finder.com.au&#39;s RBA Cash Rate Survey all called the cash rate hold, with 75 per cent predicting the increase won&#39;t happen until 2023.

Tony Makin of Griffith University was the lone expert predicting the rate to rise before 2022.

&quot;In coming months a clearer picture will emerge of underlying inflation trends both in the US and [in Australia]. The recent US inflation spike is unlikely to be temporary given the massive money supply increase, recovery from the pandemic, and substantial US fiscal expansion.&quot;

AMP Capital&#39;s Shane Oliver said the RBA is still a long way from meeting its conditions for a rate hike &ndash; namely inflation sustainably back in the 2&ndash;3% target range which will require full employment and wages growth sustainably above 3%. And the latest coronavirus outbreaks and lockdowns risk delaying progress towards its goals.

Over a third of experts (71%), called for a change in stamp duty.

They agree that changes need to be made to either stamp duty or government stimulus in order to help buyers enter the property market.

Just over half (54%) think that only stamp duty should be changed, while another third (29%) think neither should be changed.

Finder&#39;s insights manager Graham Cooke said an easing of stamp duty could reduce the burden for first time buyers and establish a more even playing field.

&ldquo;Stamp duty is essentially a tax that slows down the turnover of property. It discourages current&nbsp;homeowners from downsizing, which locks up some of the market. &ldquo;A long-term land tax would provide a fairer long-term solution, while adding liquidity to the housing market,&rdquo; Cooke said.

RBA holds rates at August meeting, experts call for stamp duty changes

RBA Governor Statement

The economic recovery in Australia has been stronger than was earlier expected. The recent outbreaks of the virus are, however, interrupting the recovery and GDP is expected to decline in the September quarter. The experience to date has been that once virus outbreaks are contained, the economy bounces back quickly. Prior to the current virus outbreaks, the Australian economy had considerable momentum and it is still expected to grow strongly again next year. The economy is benefiting from significant additional policy support and the vaccination program will also assist with the recovery.

The economic outlook for the coming months is uncertain and depends upon the evolution of the health situation and the containment measures. Beyond that, the Bank&#39;s central scenario is for the economy to grow by a little over 4&nbsp;per&nbsp;cent over 2022 and by around 2&frac12; per&nbsp;cent over 2023. This scenario is based on a significant share of the population being vaccinated by the end of this year and a gradual opening up of the international border from the middle of 2022. The Board also considered a range of other scenarios, with the main source of uncertainty being the health situation.

The labour market has recovered faster than expected, with the unemployment rate declining further to 4.9&nbsp;per&nbsp;cent in June. Job vacancies have remained at a high level and there are reports of labour shortages in parts of the economy. Some increase in the unemployment rate is expected in the near term due to the current lockdowns, but most of the adjustment in the labour market is likely to take place through a reduction in hours worked and in participation. In the central scenario, the unemployment rate continues to trend lower next year, to be around 4&frac14; per&nbsp;cent at the end of 2022 and 4&nbsp;per&nbsp;cent at the end of 2023.

The CPI inflation rate spiked to 3.8&nbsp;per&nbsp;cent for the year to the June quarter, largely reflecting the unwinding of some earlier&nbsp;COVID-19-related price declines. In underlying terms, inflation remains low, at around 1&frac34; per&nbsp;cent.

Looking forward, a pick-up in both wages growth and underlying inflation is expected, but this pick-up is likely to be only gradual. In the Bank&#39;s central scenario, it takes some years for the stronger economy to feed through into wage and price increases that are consistent with the inflation target. In underlying terms, inflation is expected to be 1&frac34; per&nbsp;cent over 2022 and 2&frac14; per&nbsp;cent over 2023. One source of uncertainty is the behaviour of wages and prices at the low levels of forecast unemployment, including because it is some decades since Australia has sustained an unemployment rate around 4&nbsp;per&nbsp;cent.

Housing markets have continued to strengthen, with prices rising in all major markets. Housing credit growth has picked up, with strong demand from owner-occupiers, including first-home buyers. There has also been increased borrowing by investors. Given the environment of rising housing prices and low interest rates, the Bank is monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.

Domestic financial conditions remain very accommodative, sovereign bond yields have declined and the exchange rate has depreciated to around its lowest level this year, despite elevated levels of commodity prices. The recent fiscal responses by the Australian Government and the state and territory governments are also providing welcome support to the economy at a time of significant short-term disruption.

The Board remains committed to maintaining highly accommodative monetary conditions to support a return to full employment in Australia and inflation consistent with the target. Together, the low level of the cash rate, the bond purchase program, the yield target and the ongoing funding that has been provided under the Term Funding Facility are providing substantial support to the Australian economy in the face of lockdowns in parts of the country and the expected resumption of the economic expansion.

The Board will maintain its flexible approach to the rate of bond purchases. The program will continue to be reviewed in light of economic conditions and the health situation, and their implications for the expected progress towards full employment and the inflation target. The Board will not increase the cash rate until actual inflation is sustainably within the 2&nbsp;to 3&nbsp;per&nbsp;cent target range. The central scenario for the economy is that this condition will not be met before 2024. Meeting this condition will require the labour market to be tight enough to generate wages growth that is materially higher than it is currently.

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