Rates on 30-year fixed-rate mortgages hit another 2025 low on Tuesday, dropping to 6.12 percent, nearly a full percentage point lower than January. Rates now have less room to come down.
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After the Federal Reserve approved the second rate cut of the year, mortgage rates moved in the opposite direction as investors who fund most home loans worry about inflation.
Each of the big four banks have announced job cuts this year.
Westpac has been accused of delivering an early Christmas heartbreak to its frontline workers, slashing more than a hundred branch jobs just weeks out from the holidays.
And the move has come as hopes fade for another round of interest rate relief.
The Finance Sector Union (FSU) issued a release blasting the bank for what it called a “heartless and disrespectful” decision to cut 134 teller and personal banker roles across 99 branches nationwide.
The union noted that the cuts are coming less than two months before Christmas.
Westpac had earlier announced about 1,500 job cuts in May, coinciding with thousands of role cuts from other big four bank payrolls so far this year.
ANZ announced in August it was cutting 3,500 staff plus 1,000 contract roles over the coming year, while NAB earlier announced it was axing 400 jobs.
The cuts come as new inflation figures released Wednesday came in hotter than expected, all but killing off hopes of another interest rate cut this year.
The ABS figures showed annual inflation was above expectations at 3 per cent – largely due to soaring electricity prices reigniting cost pressures in the economy.
Hope of RBA governor Michele Bullock announcing a Melbourne Cup Day cut have largely vanished after higher than expected inflation figures were released. Picture: Martin Ollman
CBA has now revealed it expects no more rate cuts in the foreseeable future. NAB is expecting one more cash rate cut in May, while ANZ is expecting one last cut in February. Westpac forecasts are under review.
Westpac job cuts have followed similar moves from rival banks as they move more operations online.
Westpac retail banking general manager Damien Macrae commented last month that it would be offsetting losses in retail banking staff with investments in other business units.
But the FSU said the timing could not be worse and accused the bank of abandoning workers.
Finance Sector Union national president Wendy Street said Westpac had “jumped the gun” on job cuts despite promising only last month to invest $5m into a new “capability fund” for upskilling retail staff.
“These are tellers and personal bankers who have stood by customers during a difficult few years,” Ms Streets said. “They deserve respect, consultation and the time to make real decisions about their future, without being rushed out the door.”
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The Finance Sector Union had earlier rallied against ANZ job cuts, with the group’s national secretary Julia Angrisano commenting in September that cuts would impact services.
“You can’t cut 3,500 employees (14 per cent of the ANZ workforce) and expect there not to be any impact on services and customers,” she said at the time.
The FSU is calling on Westpac to delay job losses until after Christmas and consider options for redeployment or voluntary redundancy.
“Westpac has a choice,” Ms Street said. “It can pause these cuts and treat its people with fairness and decency and work with us to find solutions — or it can prove that it’s choosing the path of chaos and putting profits over people.”
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FSU national secretary Julia Angrisano had slammed previous cuts announced by ANZ. Picture: Hollie Adams
VanEck’s head of investments and capital markets Russel Chesler said the RBA’s “next move could be a rate increase if inflation doesn’t change course”.
Property economist Andrew Wilson said pressure on banks to deliver lower rates could diminish due to growing economic uncertainty.
He warned that the risk of the RBA reversing one of this year’s earlier cuts “cannot be ruled out” if inflation stays sticky.
“There’s no clear environment for business or inflation right now. It’s all in flux,” Mr Wilson said.
“Maybe the RBA was one rate cut ahead of the cycle this year. If inflation doesn’t settle, they may have to give one back.”
The post Big bank accused of ‘heartless’ staff move as rate changes loom appeared first on realestate.com.au.
The barrel sauna and solar-heated mineral pool at 53 Whyte St, Brighton.
Prominent developer Josh Buxton has listed his luxurious Brighton family home for sale with a $7.5m-$8.25m asking range.
The four-bedroom house at 53 Whyte St is full of jaw-dropping features including a wellness set-up with a $15,000 barrel sauna and a circa-$6500 ice bath.
Mr Buxton is Buxton Projects’ director and the former director of marketing at MAB Corporation.
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Mr Buxton’s father Michael founded MAB, while Josh founded Buxton Projects.
MAB developed the Docklands residential and retail complex NewQuay and the Merrifield estate in Melbourne’s north.
And Buxton Projects has completed townhouse and apartment developments in several suburbs including Toorak and South Yarra.
The Buxton family has been involved in Melbourne real estate for more than 150 years since Mr Buxton’s great-grandfather John Robert established JR Buxton Real Estate (now Buxton Real Estate Group) in 1861.
The family sold out of the agency in the 1980s and also sold out of the property group Becton, which Micheal also established, during the next decade but is still involved with MAB.
The house is directly opposite Whyte St Park and close to Were St village, Church St’s restaurants and retail, schools and Brighton’s bathing boxes.
Are you steaming with these sauna vibes?
Twin Liebherr refrigerators, Miele appliances and a butler’s scullery with a second dishwasher, oven and microwave in the kitchen.
Mr Buxton said the home, inspired by mid-century modern principles and tropical retreats, was built about five years ago for his family of five.
Building designer Enzo Campus, builder Stonnington Group and garden designer Eugene Gilligan collaborated on the property which incorporates a solar-heated mineral pool and in-ground trampoline in a forest-like outdoor setting, an entertainer’s terrace with a barbecue kitchen, a study looking out to a Zen garden and movable interior glass walls weighing up to 400kg.
There’s also a Tesla power-wall home energy storage system, 32-panel solar system and an electric car charger.
Features such as marble benchtops were imported from Italy while door hinges and hardware came from Germany.
Inspiration for the garden’s design included images of forests.
The family dog, a golden retriever named Chilli Chocolate Muffin, stars in both the listing photos and video. Mr Buxton’s children couldn’t decide on just one name for the pup.
Mr Buxton described the house as “extremely peaceful” and “a sanctuary from the business of city living”.
The wellness set-up with its pool, sauna and ice bath are ideal for recovering from his favourite past-times such as rowing, tennis, windsurfing and surfing.
“I play a lot of sport and used to own a chain of gymnasiums,” he said.
“Recovery is important to get the most out of life and for longevity.”
The family’s dog – a golden retriever named Chilli Chocolate Muffin by Mr Buxton’s children – sometimes goes missing in the green-filled garden that was inspired by the family’s love of nature.
There’s four bathrooms in the house, plus a guest powder room.
Buxton Brighton’s Andrew Campbell says the main living areas, looking out to the garden, are a highlight with a sense of “flow and calmness really defines the home”
Elsewhere in the home there’s three living areas and a marble-fitted kitchen showcasing twin integrated Liebherr refrigerators, Miele appliances and a butler’s scullery with a second dishwasher, oven and microwave.
The main bedroom features a glass-framed fireplace, terrace, dressing room and ensuite.
Mr Buxton said he and his family were planning to build another house by Enzo Campus less than 1km from their Whyte St residences.
Mr Campbell adds that the garden has been designed to feel lush and immersive, almost like you’re stepping into a little slice of tropical paradise in Brighton.
Buxton Brighton’s Andrew Campbell said the abode was ideal for a family who valued comfort and quality.
“It would also really appeal to those who value wellbeing and lifestyle, with its peaceful garden outlooks and thoughtful design,” Mr Campbell said.
“Even sports professionals or wellness-minded buyers would appreciate touches like the ice bath and the effortless flow between relaxation and activity zones.”
Expressions of interest close at midday on November 25.
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When Jellis Craig’s Sally Heeley and Felicity Allen talk about homelessness and housing insecurity, they speak about people and the basic right to a safe place to call home rather than statistics.
“It’s a human right to have shelter and feel safe,” said Ms Allen, who is the real estate group’s senior marketing communications manager.
“There’s no reason anyone in Australia should have to experience homelessness or housing insecurity.”
It’s why the pair have joined A Night Without Home, a nationwide challenge encouraging people to go without home comforts for one night in October to raise funds and awareness for people experiencing homelessness.
It’s the first campaign by the newly launch A Home For All Foundation, a national initiative uniting the property industry to help end homelessness by raising much-needed awareness and money to tackle the problem.
All money raised for A Home For All Foundation this financial year will go to charities working to support those experiencing homelessness due to family and domestic violence.
Ms Allen and Ms Heeley see the issue not just as a community challenge, but as one the property industry has a responsibility to help solve.
“Our business is all about helping people find homes,” said Ms Heeley, who is the Jellis Craig Foundation manager.
“So when you think about the number of Australians without one, it really hits home for us as an industry.”
The Jellis Craig Foundation was created in 2013 and has since raised more than $4 million for charitable partners.
The group’s staff recently voted on the issues that they cared about the most, and three themes emerged: homelessness, mental health, and domestic violence.
“Our people wanted us to focus on these three areas, and they’re all closely linked,” Ms Heeley said.
Through the foundation, Jellis Craig has supported organisations such as The Big Umbrella, which provides meals to people sleeping rough, and Lighthouse Foundation, which helps vulnerable young people into supported accommodation.
It has also helped the McAuley Community Services for Women, which assists women escaping family and domestic violence; and LifeChanger Foundation, which delivers youth mental health programs.
But Ms Heeley said their involvement goes far beyond providing funding.
She said their teams rolled up their sleeves, painting and gardening at Lighthouse Foundation homes or cooking and serving meals with The Big Umbrella.
Ms Heeley, Ms Allen and numerous Jellis Craig staff will take part in A Night Without Home this October, including chief executive Andrew McCann who will sleep in his car overnight.
Ms Allen said the event was an important reminder that homelessness took many forms.
“People often think of rough sleeping, but that’s only a small fraction,” she said.
“So many people are couch surfing, living in cars, or staying in temporary accommodation. It’s hidden and it’s happening in every suburb.”
More than 122,000 Australians have no safe or secure place to live on any given night, according to Census data, and just 6% of them are sleeping rough.
Both Ms Heeley and Ms Allen said community work had become deeply embedded in Jellis Craig’s culture.
“We’ve raised over $4 million since the foundation began, but what really stands out is the level of participation from our people,” Ms Heeley said.
“It’s part of who we are. Everyone wants to get involved, and it brings our teams closer together.”
Ms Allen agreed, saying the sense of purpose flowed through the business.
“When you’re out there cooking meals or talking to people on the street, it completely shifts your perspective,” she said.
“It reminds you that we’re all human, and that housing is the foundation for everything else. Everyone deserves a safe space to call home.”
The post ‘Everyone deserves a safe space’: Inside the growing movement tackling housing insecurity appeared first on realestate.com.au.
For Scott Rollason, housing is not a commodity, it’s a basic human right.
Mr Rollason, the Real Estate Institute of Australia (REIA) chief executive, said when people experienced homelessness, they were often stripped of multiple human rights from education and privacy to security and health.
“It’s really about treating housing as a human right, not a commodity,” Mr Rollason said.
“People experiencing homelessness are facing violations of several rights, and that’s something we can’t ignore.”
Mr Rollason is among the property leaders taking part in A Night Without Home, a national fundraising challenge held throughout October to support the new A Home for All Foundation.
The foundation has brought together the entire property industry to help end homelessness in Australia by driving awareness, raising funds, and supporting long-term housing solutions.
All of the funds raised this financial year will go to charities working to support those experiencing homelessness due to family and domestic violence.
In October, Mr Rollason will spend a night sleeping in his car in Canberra to raise money and awareness for the cause.
He said the REIA team quickly rallied behind the initiative, with several staff members also signing up to take part.
“We kicked off fundraising as soon as the foundation launched,” he said.
“We have others from REIA also taking part, and the whole national team has been getting behind it. It’s great to see that energy and commitment.”
Mr Rollason has been one of the top individual fundraisers for A Home for All Foundation this year, having raised more than $6,600 at the time of publication.
While homelessness is often associated with people sleeping rough, that group makes up just 6% of the more than 122,000 Australians who have no safe place to call home on any given night.
Most homelessness is hidden, with the majority of people experiencing homelessness often couch surfing, living in cars, or staying in temporary accommodation without security.
Mr Rollason said the real estate profession had an important role to play.
“As real estate professionals, we’re stewards of trillions of dollars’ worth of property assets across Australia,” he said.
“Our property managers are seeing lines out the door for rentals, and we see firsthand the challenges people face in finding a roof over their head.
“Being able to give back through initiatives like this is incredibly important.”
He added that the industry was already showing up for the community in meaningful ways.
“Coming into this role, I’ve been blown away by the contributions across the industry, not just to tackle homelessness, but to support the broader community when it’s needed,” he said.
Mr Rollason is also a member of the A Home for All Foundation’s advisory committee and said he was humbled to work alongside others equally passionate about housing and social good.
For the REIA chief executive, the campaign is more than a symbolic gesture – it’s about ensuring Australia’s property leaders take collective responsibility for helping those left behind.
“It’s really powerful to see the industry come together around this issue,” he said.
“At the end of the day, housing is central to everything, it’s the foundation of stability, health and opportunity.
“We all have a role to play in making sure every Australian has a safe place to call home.”
The post ‘Housing is a human right’: The industry voice joining the push to end homelessness appeared first on realestate.com.au.
For many Australians, retirement is more than stepping away from work; it’s about stepping into a new lifestyle and, increasingly, that lifestyle is all about the beauty of the beach.
Case in point, Tweed Heads in northern New South Wales right on the Queensland border, has become a premier locale for over-55s seeking a sea change.
It’s here that new, luxury apartment building Serene Residences is set to establish a new benchmark in modern retirement living.
The perfect sea change destination
With riverside walks, pristine beaches, and lush hinterland at its doorstep, Tweed Heads offers retirees a lifestyle that feels both relaxed and energising, the location is one of Serene’s greatest drawcards.
“Tweed Heads is a lively coastal town on the NSW QLD border, offering the perfect balance of convenience, natural beauty, and lifestyle for retirees,” Serene sales manager Chris Paynter says.
“It’s home to excellent healthcare, a wide range of community services, clubs, and support networks, making it easy for retirees to stay connected and active.”
With the Gold Coast Airport just ten minutes away the suburb is also convenient for those with family interstate, Mr Paynter says.
Architecture with a coastal heartbeat
Designed with downsizers in mind, Serene Residences blends contemporary architecture with coastal inspiration.
The exterior pairs bold, modern lines with natural touches, from timber-look cladding to hanging greenery that softens the facade and connects the building to its leafy surrounds.
“Every element has been thoughtfully chosen to create a cohesive and welcoming environment that balances style, comfort, and practicality,” Mr Paynter says.
“Privacy and comfort are prioritised with black aluminium screens, deep recesses, and layered screening, creating visual depth and interest without overwhelming the streetscape.”
Inside, apartments are light-filled and open-plan, offering modern finishes and clever layouts to suit a variety of lifestyles.
Living made easier
For downsizers, one of the biggest appeals is the shift to low maintenance living without losing a sense of space or connection.
“Serene Residences caters to downsizers seeking a simplified, low-maintenance lifestyle without compromising on style or comfort,” Mr Paynter says.
“Communal areas encourage social engagement and connection with neighbours, while private residences are designed to feel both functional and inviting.”
The development includes 94 apartments across seven levels, with 20 different floorplans to choose from.
Options span one-, two-, and three-bedroom layouts, each tailored to balance practicality with a sense of modern coastal luxury.
A lifestyle tailored to retirees
Where Serene Residences truly shines is in its range of resident-focused amenities.
A pool, spa, sauna, and outdoor gym encourage health and wellbeing, while rooftop and veggie gardens, plus a sundeck with river views, invite residents to slow down and soak in the coastal lifestyle.
“A cafe at the front, open to the public, offers a social connection point for residents and the wider community,” Mr Paynter says.
“The resident lounge, library, and billiards room encourage further engagement and recreation. Even the private art collection adds to the sense of community and cultural enrichment.”
It’s a vision of retirement that feels active, social and inspiring, a lifestyle as much as a place to live.
Tour the amenities in our gallery
Tweed Heads: The new Byron Bay
Long beloved for its pristine beaches, riverfront walks and lush hinterland, Tweed Heads is often touted as the next Byron Bay, and the comparison is not without reason.
In the past year, the local property market has surged, with the median house price climbing to about $1.5 million, a rise of nearly 16%.
The unit median has also seen strong growth of more than 10% in the past year, now sitting at $885,000.
Despite its strong price-growth, homes in Tweed Heads are much more affordable than in Byron, where the median house price is $2.5 million and units have a median price of almost $1.3 million.
For retirees, it all adds up to a location that offers the relaxed atmosphere of Byron Bay without the prohibitive price tag, and with the bonus of everyday convenience close at hand.
Why retirees are choosing Serene
For those considering a sea change, Serene Residences represents a fresh chapter grounded in convenience and possibility.
It’s about more than just downsizing; it’s about upgrading to a lifestyle that supports independence, connection, and everyday enjoyment.
“For over-55 buyers seeking a sea change, Serene Residences offers a coastal lifestyle within a welcoming community,” Mr Paynter says.
“Secure, well-designed apartments combined with wellness amenities and proximity to local services make it easy to embrace a new chapter by the sea with comfort, convenience, and peace of mind.”
With its enviable Tweed Heads location, inspired architecture, and a focus on community, Serene Residences is set to become a new landmark for retirees ready to make the coast their home.
The post Downsize without compromise: Tweeds Heads homes with river views and a social pulse appeared first on realestate.com.au.
A world-class architectural masterpiece in Perth’s prestigious Peppermint Grove is available for sale with offers over $14 million.
Carbrakine House, an 1898 Federation Queen Anne residence, has been meticulously reborn as a breathtaking contemporary sanctuary boasting jaw-dropping design and unparalleled heritage.
Set on a sprawling 1,302 sqm block, 143 Forrest Street represents a seamless fusion of century-old craftsmanship and cutting-edge artistry.
The result of a powerhouse partnership between Space Agency architecture and acclaimed interiors firm, Hare + Klein, Ray White Cottesloe director Jody Fewster said Carbrakine House is unlike anything else in the area.
“It truly stops you in your tracks,” Ms Fewster said. “Every element has been reimagined with absolute respect for its 1898 origins while embracing the finest in contemporary Australian design.”
“Space Agency brought an architectural rigour and understanding of proportion, while Meryl [Hare] infused the interiors with warmth, tactility and soul. It’s that rare synergy where architecture and interior design speak the same language.”
The home has three generous bedrooms plus a study (or optional fourth bedroom). The master suite is a truly private retreat, complete with a luxurious marble ensuite featuring bespoke cream terracotta tiles sourced from Italy, custom robes, and a sun-drenched terrace overlooking the gardens.
“Materials like Grigio Perlato marble or handmade Italian terracotta tiles tell a story; they age beautifully and reflect a standard of design that’s built to endure. Every surface here has been completed with that level of thought.
A quiet library and a 1,000-bottle climate-controlled wine cellar complete the long list of interior features. Outdoors, an award winning courtyard opens to a shimmering freshwater pool finished in Bisazza glass mosaic tiles
“The courtyard is the heart of the home,” Ms Fewster said. “It’s not just beautiful, it’s incredibly functional for the way we live in Perth.”
A new standard for Perth’s elite market
Consistently holding the title of Perth’s most expensive suburb — with a median house price of $4.37 million — Peppermint Grove is characterised by its enviable riverfront location, grand mansions and tree-lined streets.
“We’re seeing strong interest from highly sophisticated buyers, people who travel, who understand great design and who want a home that reflects their values,” Ms Fewster said.
“It’s attracting attention from those who typically buy in Sydney’s eastern suburbs or Melbourne’s Toorak, which says a lot about where Peppermint Grove now sits on the national stage.
“Peppermint Grove already sets the benchmark for prestige real estate in Western Australia, but The Carbrakine House sits in a class of its own.
“I think it has every potential to set a new benchmark and it will most certainly raise the bar in our suburb.”
The post Federation Queen Anne icon in Peppermint Grove listed for $14m+ appeared first on realestate.com.au.
1-3/22 Smith Street Mooloolaba.
Four Aussie siblings are preparing to say goodbye to their beloved beach home which has been in their family for 54 years.
Linda Parsons, alongside brothers Rob, Thomas and Frank, have put their Sunshine Coast unit block, in Queensland, on the market.
Known as Tamari Court, the Mooloolaba block includes two original holiday units and another unit on a 607sq m block.
1-3/22 Smith Street Mooloolaba.
It has been owned by the same family since 1971.
Ms Parsons said her parents bought the block with dreams of building their family home.
“They were going to build a house, but then they decided to build a home at the back and two holiday units at the front,” Ms Parsons said.
Ms Parsons said her family’s story was woven into the fabric of Mooloolaba’s history.
Her grandfather owned the first two ice works factories in Mooloolaba and Maroochydore, serving the local fishing industry that once defined the coastal community.
Growing up in the area during Mooloolaba’s transformation from a quiet fishing village, Ms Parsons and her siblings enjoyed an idyllic beachside childhood.
1-3/22 Smith Street Mooloolaba.
“We lived close to the beach – every afternoon after school we would walk across the road to the beach, or down the other way and swim across the river before the canals were built,” she recalled.
“We had a great childhood and life – we just didn’t realise it at the time.”
Ms Parsons said the property developed its own traditions over the decades, with the same holiday-makers returning year after year.
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Plenty of holiday-makers would return to Tamari Court every year.
She said her father, a fisherman, would supply guests with fresh fish, while they would reciprocate with fruit and vegetables – as many had travelled from farming areas.
Now in their 70s, the four siblings have made the difficult decision to sell.
“It’s been a tough decision – we have so many great memories here,” she said.
“Lots of our family have been involved in it at the time – lots of grandkids have stayed at the property over the years.”
Inside one of the units at 1-3/22 Smith Street Mooloolaba.
While the property has had renovations over time and is currently liveable, Ms Parsons sees its true potential lying in future development.
“I think that little area there is waiting to be developed – I think it’s going to happen and will be great for people – it’s a short walk to the beach and shops,” Ms Parsons said.
“The area has developed over time – it’s amazing.
“There were no high rise buildings when I was growing up in Mooloolaba.”
Tamari Court offered luxury holiday accommodation.
Ray White Mooloolaba director Brent Higgins is taking the property to auction on November 15.
“This is a rare opportunity to acquire a piece of Mooloolaba’s heritage in a prime beachside location with significant development potential,” Mr Higgins said.
Mr Higgins said the proposed SEQ Regional Plan zoning changes presented an exceptional opportunity for this site.
“The introduction of mixed-use zoning with building heights up to 28m recognises Mooloolaba’s status as a high-amenity area with excellent infrastructure,” he said.
“This property is perfectly positioned to capitalise on these changes, offering savvy developers the chance to create a landmark project in one of the Coast’s most sought-after beachside locations.”
PropTrack data reveals the median price of units in Mooloolaba is $807,000 while the median price for houses is $1.61m.
Over 12 months, unit values are up 9.8% while houses are up 3.2 per cent.
The post Aussie family hopes to cash in on developer interest appeared first on realestate.com.au.
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