From waterslides and motocross tracks to zip lines and skate ramps, these properties will keep the kids entertained now that the social media ban for under 16s has kicked into gear.
From today, social media sites such as Facebook, Instagram, Reddit, Snapchat, TikTok, X (formerly Twitter) and YouTube will be forced to ban Aussie kids under 16 from accessing their platforms, or face fines of up to $50 million.
Australia is the first country in the world to implement such a ban, with other countries set to follow.
And kids are already being locked out of social media apps.
Now let’s hope it means they swap the screens for the backyard, pool or local creek.
Here we take a look at some of the best backyards currently on the market.
1. VICTORIA – Price guide: $11m to $12m
This Tudor residence was renovated by celebrated architects Kennedy Nolan delivers outstanding resort-style family living with tennis court, pool and golf practice area.
There is also a children’s wing and a in-ground trampoline.
Forget algorthym-led dopamine hits, this residence is just dope (do kids still say that?).
And it is outside that this property truly shines. There is a poolside pavilion with a bar, pool with spa, inground trampolines, and a large-scale skate ramp.
There is also a firepit, media room, and wraparound verandas.
It boasts a tiny home, swimming holes and a fruit orchard.
“Kids will adore the whimsical treehouse, tree swings, flying fox zip line, and ample space to explore safely,” the listing says.
10 Byron Creek Road, Coopers Shoot, NSW
4. QUEENSLAND: $27.5 million
The Estate sits on a 8888sq m block with panoramic ocean and hinterland views.
And while the residence and fully self-contained sky residences are impressive, it is the long list of entertainment options that will make the kids forget all about Mark Zuckerberg.
There is a health and wellness “precinct”, an 18m heated infinity pool, a 160m kart circuit, putting green, a full basketball arena, a 16-seat private cinema, a sound-insulated poker room and multiple indoor-outdoor entertaining zones.
160 Tallai Rd, Tallai
160 Tallai Rd, Tallai
5. NSW – EOI
This Lennox Head property sits on almost two acres and offers a tri-level residence just two minutes drive to Seven Mile Beach.
It features a heated 20m pool with a spa, toddlers wading pool and a waterslide.
Other features includea full-sized gym, rumpus room, caravan parking and a firepit area.
It features a inground mineral and magnesium pool with a waterfall and slide, established banana and paw paw trees, a firepit, plenty of wildlife such as koalas, kangaroons, possums and birds, a scenic dry crek with a footbridge, a half court basketball area and an elevated tree house.
It includes a newly constructed 5-bedroom, 3-bathroom homestead and a fully renovated 3-bedroom cottage.
But it is outside where the dopamine kicks in, with a motocross track, horse arena and feature dam.
673 Laceys Creek Road, Laceys Creek, Qld
8. VICTORIA – Price guide $1.71m to $1.79m
On over 40 acres of “picture perfect land”, this lifestyle residence comes with three dams stocked with Australian bass, ideal for fishers, horse stables, a heated pool and a BMX track.
“More than a home, this one-of-a-kind property offers an idyllic lifestyle with something for everyone in the family,” the listing says.
8055 South Gippsland Highway, Korumburra, Vic
9. NSW – Contact agent
Located at Whale Beach is this epic estate that “blurs the between luxury home, holiday villa and private playground”.
Designed by renowned Sydney architect Michael Suttor, the residence spans three levels, and boasts five bedrooms and five bathrooms.
But let’s face facts, the social media generation could not care less about architectural design.
They are more grappling with how to stay entertained when they get booted online.
Outside features a private golf course with ocean views, while a heated infinity plunge pool, spa, and sauna invite wellness and relaxation.
It boasts culptured gardens, a custom-landscaped maze and a sunlit poolside patio with a covered all-weather gazebo adjoining a solar-heated pool.
There is also paddocks, stables, a tack room, feed store and an Olympic-sized dressage arena.
Located in Federal, it also has extensive raised veggie gardens, a citrus orchard, 10 acres of regenerated forest, a steam room, guest cottage, a treehouse and teepee.
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Priscilla Presley, the wife of the late King of Rock Elvis Presley, at the home of Lynn Santer on the Gold Coast
The fully furnished home of a Hollywood film producer will go to auction, complete with signed memorabilia from Elvis Presley, Dame Virginia McKenna and Tippi Hedren.
Located at 30 Peninsula Court, Mermaid Waters, the former Boys Town home is owned by author, producer and philanthropist Lynn Santer, who has teamed up with Priscilla Presley on a feature musical project called Swan Song.
30 Peninsula Court, Mermaid Waters
The wife of the late King of Rock’n’Roll has visted Santer’s Mermaid Waters home, which is listed with Coastal agent Campbell Moore and will go to auction at 11am tomorrow (December 10).
“I am selling for a number of reasons, but predominantly because I have some business to tend to in Hollywood so I am going temporarily over there, and then I am going to spend some quality in Africa, which is where my heart has always been,” Ms Santer said.
“It is where I have campaigned against trophy hunting for many years.”
Ms Santer’s lifelong passion is the preservation of endangered big cats.
“I love the Gold Coast but there is a 50/50 chance I won’t be back,” she said.
As for the memories, she said her Mermaid Waters property was “magical”.
“I have nurtured and created this wildlife sanctuary, and Swan Song is based on the real life animals here,” she said.
“Priscilla and I have been dear friends for 20 years and she was very involved in Swan Song.
“It won the Peoples Choice award in London this year, and Priscilla is keen to be the voice in the animated feature musical.”
Ms Santer said the winning bidder on auction day would be the “new custodian”, and woudl receive signed copies of Swan Song.
Memorabilia lines the walls
“Resting amongst the enchanting gardens is the cherished home of a Hollywood film producer,” the listing says.
“Sprawling across a single level and impeccably maintained, it’s uniquely appointed with signed memorabilia and collectibles from Elvis Presley, Dame Virginia McKenna of Born Free fame, and Tippi Hedren, Alfred Hitchcock’s star of The Birds all included.”
Photo of Elvis Presley in Las Vegas during a concert in December of 1975 (Photo by Michael Ochs Archives/Getty Images)
Actress Tippi Hedren in the Alfred Hitchcock film, The Birds.
There is also “exclusive” Noble House interior design and furniture, floor-to-ceiling bay windows with gold scalloped curtains, baroque furniture and a cream lacquered Young Chang baby grand piano included in the sale.
It is being sold fully furnished
Overlooking Lake Hugh Muntz, a landlocked and “shark free” waterway, the residence sits on a 1056sq m block with 40m of water frontage.
The inspiration for Swan Song
There are five bedrooms including a master suite with a walk-in robe and ensuite, a central family room with old master artwork replicas, two Constables and one Canelletto, and a modern kitchen.
The wood kitchen
There is also a formal dining room with an alabaster dining table and a built-in bar.
“Additionally, a ‘ye olde cabin’ awaits, furnished with genuine antiques and evoking the serenity and charm of an authentic rustic retreat,” the listing says.
The ‘ye olde cabin’ has been described as a man cave/cabin.
Outside, dual staircases wind down to the lake.
There is also landscaped, irrigated gardens, a heated saltwater pool, revere cycle airconditioning, solar and
The property goes to auction at 11am on December 10.
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Essential workers are being pushed into the red across most of the country, with affordability down to extreme single digits in most places. Source: Anglicare Australia.
Alarming national heatmaps warn essential workers like nurses, cleaners and hospitality workers can’t afford rent in major parts of the country, sparking new calls to reform investor tax breaks.
Anglicare Australia analysed more than 51,000 rental listings and tested them against the wages of 16 frontline occupations, finding the very people who keep the country running are being priced out of their own communities.
Firefighters are among those who face a rapidly shrinking pool of rentals compared to salaries. Picture Thomas Lisson
Essential ambulance workers in SEQ see the worst affordability level across Brisbane’s East and the Gold Coast at 0.3 per cent in their budgets. Source: Anglicare Australia.
Anglicare Australia executive director Kasy Chambers said “essential workers keep our communities running, yet many can’t afford a place to live”.
She said “we need tax reform that puts people in need of a home, not just investors, at the centre of our housing system”.
Data from Anglicare Australia’s Rental Affordability Snapshot found rental properties essential workers could afford were down to extreme single digit percentages nationally now – less than one per cent for hospitality workers or early childhood educators (0.8pc), while construction workers, nurses and aged care workers ranged from 1.1-1.7 per cent, with ambulance workers having the biggest percentage open to their budgets at 2.3 per cent or just over 1,000 of the surveyed homes.
In places like Sydney’s Northern Beaches and Sutherland it is down to zero for those with professions like ambulance workers, with the worst they see in Brisbane at 0.3 per cent in the Queensland capital’s east and also on the Gold Coast.
Anglicare Australia executive director Kasy Chambers is calling for more dedicated social and affordable homes to be built urgently.
Hospitality workers also face a grim rental situation across the capitals.
The outlook is grim, Ms Chamber warned with rents rising faster than wages, pushing more aged care workers, nurses, cleaners, ambulance officers and hospitality workers to the brink of severe housing stress and even out of their communities entirely.
“Shortages in care, health and emergency services are being made worse by the fact that workers cannot afford to live near their jobs. The private rental market is failing even people on average incomes.”
Anglicare Australia is calling for more dedicated social and affordable homes to be built for workers and families that need them most, adding that the country also needs stronger protections for renters, including an end to no-cause evictions and limits on unfair rent increases.
“Every community relies on these workers. They should be able to live near their jobs, not be forced out by soaring rents. These maps are a call to action for governments to invest in real solutions.”
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Woolloomooloo Wharf apartment complex, where Russell Crowe owns a home, has received global acclaim. Picture: Jonathan Ng
Turns out Russell Crowe has good taste when it comes to housing.
The Sydney’s Harbour enclave where the Hollywood actor has been living on and off for the last two decades has been given the nod in a prestigious global urban planning award.
Sydney’s heritage listed Woolloomooloo Wharf, where Crowe purchased a unit in 2003, this week became the first Aussie project to ever receive the Urban Land Institute Asia Pacific Legacy Award.
Recognising places that continue to deliver exceptional civic, cultural and economic value decades after completion, the Wharf joins an elite group of global icons that have also received the award.
They include New York’s Rockefeller Centre and Hong Kong’s Pacific Place.
Crowe’s apartment was the highest priced apartment sale in Sydney when he purchased it 22 years ago, with the Gladiator star paying a then record $14.35m.
There were whispers within the real estate industry late last year that the actor was considering selling off market, with agents in the area speculating the apartment could be worth well over $40m.
Crowe had been splitting his time at the Woolloomooloo unit and a 100 acre rural property on the NSW Coast.
No exchange has been made to date and the Woolloomooloo property may be worth more after another year of explosive growth in the Sydney housing market.
One of the Wharf homes is also owned by billionaire steel tsar Sanjeev Gupta.
The buyers were understood to be billionaire steel tsar Sanjeev Gupta and wife Nicola.
Originally constructed between 1910 and 1915, Woolloomooloo Wharf was once the largest timber piled finger wharf in the world.
It stretched more than 400m and served as a powerhouse of Australia’s wool trade, naval operations and post war migration.
By the 1970s, containerisation and shifting port activity had left the Wharf derelict and facing demolition.
Its fortunes changed in 1996 when Lang Walker AO and Walker Corporation acquired the site and undertook a $400m waterfront restoration, completed in time for the Sydney 2000 Olympic Games.
Walker CEO David Gallant said Woolloomooloo Wharf pioneered a new era of waterfront renewal in Sydney.
The late radio broadcaster John Laws also owned a home on the Wharf and was a long-time neighbour of Crowe. Picture: Max Mason-Hubers
“Lang Walker led one of the most significant heritage restorations ever undertaken in Australia at a time when demolition was considered the easiest solution,” Gallant said.
“His tenacity helped preserve a national landmark and created a waterfront community that is still thriving more than 25 years later.”
Heritage expert and former director of the National Trust NSW Stephen Davies said the Wharf’s rescue remains one of Australia’s most important heritage wins.
“Woolloomooloo Wharf is one of the finest examples of early twentieth century wharf engineering in the world,” Davies said.
“Its conveyors, electric lifts, gantries and magnificent Federation style timber sheds represent an era of craftsmanship that cannot be replicated today.
“Had it been demolished, Australia would have lost irreplaceable chapters of its wartime history, its wool shipping identity and the arrival point for generations of migrants. Its preservation changed the way NSW thought about industrial heritage.”
Inside one of the Woolloomooloo Wharf homes.
The Wharf was redeveloped just before the 2000 Sydney Olympics.
Russell Crowe has made other power moves in the property market.
In a recent podcast with Joe Rogan, Crowe shared how well his purchase on the NSW North Coast has performed as an investment over the years.
“I always look back at my 30-year-old self who made the decision to take the little bit of money that I’d earned at that point, 31, 32 I was, and buy 100 acres in the bush, because somehow I knew I would need that place,” Crowe said.
“I could have bought an apartment in the city, but I didn’t.
“I bought 100 acres of basically blank bush, no fences.”
Crowe said he bought the block on January 20, 1996, before he began shooting LA Confidential. “I look at that 32-year-old and go, ‘mate, well done’,” he said.
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The ‘worst ever’ period for a crucial nationwide industry is exposing a critical issue that ‘touches every Aussie household’.
As we approach the summer holidays, some people are winding down for the year but others are honing in on potential property purchases – and moves – in 2026.
According to the 2025 Muval Index, Google searches for removalists have dropped by 22 per cent since 2019 and are now at their lowest level since 2006.
“We’re seeing people delay, downsize, or sacrifice key lifestyle elements in order to find a place to call home,” said James Morrell, chief executive officer of Muval.
“This past year, we’ve witnessed the industry bounce along the bottom of the lowest demand for removalist services in two decades, with Google search interest for removalists and interstate movers falling to levels not seen since search engine statistics began being tracked and made publicly available (2006).
“Many of the moving companies we partner with have described 2024/2025 as one of the quietest periods in living memory. And behind that silence is a much louder issue: Australia’s “deepening housing crisis.
According to the 2025 Muval Index, Google searches for removalists have dropped by 22 per cent since 2019 and are now at their lowest level since 2006. Picture: Glenn Hunt / The Australian
From skyrocketing rental prices to limited housing supply, the challenge of simply finding a place to live — let alone choosing to move — has become overwhelming for many Australians. These pressures came to a head in this year’s federal election, where housing availability emerged as one of the defining issues of the campaign. The conversation has shifted: housing is no longer just an economic talking point, it’s a social and generational concern that touches every household.
“This year’s Muval Index doesn’t just reflect where Australians are moving. It reveals where they can move, and increasingly, where they cannot.
“While some regional areas are thriving as affordable alternatives to capital cities, the overall volume of moves has slowed dramatically. We’re seeing people delay, downsize, or sacrifice key lifestyle elements in order to find a place to call home.
We believe that moving should represent a moment of opportunity and renewal. But this past year it’s also a barometer for deeper structural challenges in our society.”
However, he added that Australia was still one of the most mobile populations in the world, with thousands of people moving house each year. And many of these movers are actively relocating in search of better lifestyles, affordability, or work opportunities.
We discuss the continuing popularity of “lifestyle locations” in our recently released McGrath Report 2026. This popularity is partly driven by GenZs and Millennials buyers, or those now aged around 20-44, or younger.
As we explain in our report, these buyers are looking for properties close to their workplace as well as public transport, shops, and entertainment hotspots. “Walkable” or “20-minute” neighbourhoods – or those within 800 metres of homes – also appeal to the increasing number of environmentally and community focused younger buyers.
While these neighbourhoods are most often found in metropolitan centres, regional towns can offer similar easy access to a range of handy amenities. And of course, these towns are often just a short distance from natural attractions and green spaces.
Governments are now joining the shift to walkable neighbourhoods as well. Compact precincts with accessible public transport and retail centres are beginning to replace low-density neighbourhoods where residents rely too much on their cars.
New rail lines are springing up in Sydney and Melbourne, which will enable easier and swifter travel connections to different areas of these cities, including workplaces, shops, and entertainment hubs.
Auctioneer John McGrath brings down the gavel on a sale in inner city Sydney. Picture: Julian Andrews
For example, Melbourne’s massive Suburban Rail Loop (SRL) project, will include large neighbourhood hubs near some of the stations. Currently under construction, the first part of the project – the SRL East section – will eventually feature around 70,000 new homes, within an initial 800m area of the section’s six underground stations.
There are also increasing demands for easily accessible night time hotspots. The Queensland Government was the first to listen to this demand back in 2006, with Fortitude Valley, in Brisbane’s CBD, recognised as Australia’s first Special Entertainment Precinct (SEP). This SEP status allows an area to offer increased trading hours and different sound management rules to those of other areas and is a great way to support night time entertainers – and revellers.
The NSW Government has also now stepped up to support these hubs and since 2023, has approved 12 SEPs across Sydney, most of them in the western suburbs. In April this year, Byron Bay also became NSW’s first regional area to begin a trial SEP period.
With these kinds of positive changes occurring in already popular areas, I believe lifestyle locations will continue to experience strong demand in the new year and beyond.
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Wentworth Park Sporting Complex in Glebe will be demolished after September 2027 to make way for new homes. Picture: Jonathan Ng.
A Sydney greyhound racing track will be closed and demolished to allow for thousands of new homes to be built, as the NSW Government confirms its plans for Wentworth Park.
The greyhound track at Wentworth Park Sporting Complex in Sydney’s inner city will fall just short of its centenary before its lease expires in September 2027, when the City of Sydney will convert it into community sporting fields and public green space, according to government plans.
This will allow for the rezoning of the surrounding area to support up to 2,500 new homes.
Illustrations of the City of Sydney’s plans for Wentworth Park, from their 2024 report ‘A community vision for Wentworth Park’. Picture: City of Sydney.
These are in addition to the other 4,800 homes already planned or approved in the area, including 2,000 planned homes on the old Sydney Fish Market and neighbouring sites.
NSW premier Chris Minns said the plans were part of building “a fairer and more balanced Sydney.”
“We recognise Wentworth Park holds deep history and meaning for many people, and we know some will be disappointed by this change,” he said.
“But cities change and we have a responsibility to plan for the future.”
Wentworth Park has hosted greyhound racing since 1932. Picture: Supplied.
NSW minister for gaming and racing David Harris said the plans marked “an exciting new chapter” for the inner city greyhound racing track that has been in operation since 1932.
“Greyhound racing is a valuable contributor to regional communities supporting thousands of jobs,” he said.
“While the curtain may be closing for greyhound racing at Wentworth Park, we will work with the industry to improve other tracks and ensure the sport safely continues into the future …”
The new 14-hectare green space at Wentworth Park will also be available for hosting festivals and community events, according to the NSW Government.
NSW premier Chris Minns said the plans for Wentworth Park were part of building “a fairer and more balanced Sydney.” Picture: NewsWire/John Appleyard.
NSW minister for planning and public spaces Paul Scully said the plans for the park were about “securing its future for the next generation.”
“This plan keeps land in the public hands and delivers new homes, new sporting facilities and new open space for a community that is growing fast,” he said.
“Our city is changing, and we have a responsibility to make sure people can live near the jobs, education and transport they rely on.”
The planned Wentworth Park precinct will also be adjacent to new inner city transport links, including a new ferry stop at Sydney Fish Markets, an upgraded light rail station at Wentworth Park and the Pyrmont Metro station, which is set to open in 2032.
Illustrations from the City of Sydney’s ‘A community vision for Wentworth Park’ report. Picture: City of Sydney.
The project has been in planning by the City of Sydney since 2022, when they first began consulting the community.
In the council’s report, ‘A community vision for Wentworth Park’, the City of Sydney said there was “overwhelming support [from the community] to remove the greyhound facility to create more green space and unify the park.”
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Many prospective buyers are frantically rushing to snap up property before the year is out, with FOMO forcing some to fork out unprecedented prices.
Several suburb records have been smashed right across Adelaide in the past few weeks as househunters and developers scramble to secure limited properties.
Edge Realty principal Mike Lao said “the fear of missing out”, or FOMO, on properties while they were affordable so they could reap the rewards of further expected growth in 2026 was driving many purchases at the moment.
He recently sold an Elizabeth home for more than $156,000 above the suburb’s price record for a single residence.
21 Judd Rd, Elizabeth.
21 Judd Rd, Elizabeth.
Edge Realty principal Mike Lao.
The four-bedroom house on a 920sqm corner block fetched $915,000 at auction, smashing the suburb’s previous benchmark of $758,500 set by the property at 11 Enford St in August, according to property records.
“We had about 20 registered bidders and they were mostly developers,” said Mr Lao, who sold the property with Tyson Bennett.
“But the people who bought it are going to just rent it out.
“The fear of missing out is making people buy there.”
According to latest PropTrack data, Elizabeth’s median house price has climbed 15.1 per cent in the past year, 77.8 per cent in the past three years and 162.9 per cent in the past five years to $610,000.
The sale comes after Mr Lao sold another property at Brahma Lodge for $958,000 under the hammer, which also raised the bar for the area.
“It was crazy, we had about 51 registered bidders,” Mr Lao said after the sale settled in December.
Meanwhile, a $2.235m Thebarton property raised the bar for its city fringe suburb by almost $600,000 at auction this month, and a $4m sale eclipsed the previous record for Onkaparinga Heights by more than $1m last month.
A luxury beachfront mansion at 107B Esplanade has also set a new benchmark for Hove, according to property records.
107B Esplanade, Hove.
107B Esplanade, Hove.
Noakes Nickolas director and auctioneer Simon Noakes.
Government data shows the second highest sale in the small seaside suburb is that of the home at 111 Esplanade, which fetched $3.965m.
Selling agent Simon Noakes, of Noakes Nickolas, said the mansion at No. 107B was well received with multiple offers on the three-storey house.
“It sold in about a week,” said Mr Noakes, who sold the property with Jorden Tresidder.
He said there was a definite rush to snap up property at the moment, with prospective buyers willing to pay top dollar to secure them.
“There’s strong demand for the right properties at the moment,” he said.
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Our coverage of the RBA’s cash rate decision has now concluded. The RBA has held the interest rates at 3.60%.
RBA governor Michele Bullock. Picture: Jeremy Piper
Thank you for joining us
4:15pm
This concludes our live coverage of the RBAs final cash rate decision of 2025. To recap, the RBA board has held the cash rate steady at 3.60% for the third month in a row.
Speaking in this afternoon’s press conference, governor Michele Bullock said the board had spent time discussing the emerging likelihood of rate hikes for 2026 and has not ruled out a raise in the near-term, including as soon as at its next meeting.
The bank’s board will not meet for another cash rate decision until February. Please join us again next month however as we cover the lead up to the first decision of the new year.
In the meantime, keep updated over the holiday period on realestate.com.au and Mortgage Choice, where we will have all the latest commentary on the decision, as well as forecasts and outlooks for next year from our in-house team of economists.
‘No rate cuts for the foreseeable’: RBA
4:10pm
Governor Michele Bullock has refused to put a probability on whether Australians will face rate hikes in the near-term or continue with a 3.60% cash rate.
Speaking this afternoon, Ms Bullock said: “With what we know at the moment, I don’t think there are interest rate cuts on the horizon for the foreseeable future. The question is, is it just an extended ‘hold’ from here, or is it a possibility of a rate rise. They are the two things the board will be looking closely at coming into the new year.”
The governor was cautious in facing questioning over whether the RBA had cut rates too many times throughout 2025.
“If you go back six or seven months ago, people were saying we needed to drop interest rates quite a lot because things were very soft. The board has been cautious and I think that has been borne out.”
Headline inflation to be high for another 12 months
3.57pm
Australians can expect headline inflation to remain above the RBA’s 2-3% target range for at least the next year, governor Bullock has revealed.
Discussing the possibility of cash rate hikes in 2026, Ms Bullock said headline inflation numbers are still being “swung around” by the roll off of electricity rebates and were unlikely to stabilise for 12 months.
“That said, what we are looking for with underlying inflation are some sort of clues as to whether or not the large increase in quarterly trimmed mean in the September quarter was a whole lot of unrelated one-off factors, or whether or not it was demonstrating that there is underlying capacity pressures in the economy,” she said.
“When we come back to things in February, we’ll be reassessing whether we think capacity is a bit tight, and we will be reassessing whether we think financial conditions are really just a little bit tight, or effectively not putting any downward pressure on inflation.”
RBA discussing rate rises for next year
3.46pm
Governor Michele Bullock has admitted the RBA board spent time at its most recent meeting looking at plans for rate hikes in 2026.
Addressing the media in her post-rate decision press conference, Ms Bullock said: “We did consider – and discuss quite a lot – the circumstances and what might need to happen if we were to decide that interest rates had to rise again at some point next year.”
The RBA’s statement confirms all board members voted for a hold decision today, despite the return of rising inflation in the economy. Ms Bullock has now also confirmed that the board did not even consider either a rate hike or a rate cut for December in its deliberations.
“There was no cut on the table and no one suggested that there be a cut,” she said. “We didn’t consider the case for a rate cut at all and we didn’t explicitly discuss a case for a rate rise at this meeting.”
RBA governor prepares for media questions
3.29pm
Michele Bullock is set to appear before the media shortly for her scheduled post-decision press conference, where she will outline the Reserve Bank board’s decision-making process and provide a summary of its economic outlook for 2026.
Ms Bullock will face intense scrutiny as she answers questions about how the board plans to respond to a potential new spike in inflation. She will also be expected to explain how the RBA intends to adjust its forecasts given the unpredictable nature of December’s consumer spending and employment patterns, which often fluctuate during the holiday season.
Throughout 2025, Ms Bullock has maintained a cautious approach to managing inflation, emphasising the importance of avoiding rash decisions. This stance will give her breathing room from criticism to reinforce the board’s messaging about patience and measured responses.
However, with another inflation increase appearing likely, both markets and the public will be looking for clearer, more decisive signals from the RBA.
‘No relief for households’: Rate hold criticised
3:14pm
The Real Estate Institute of Australia (REIA) has criticised the RBA’s decision to leave the cash rate untouched, saying it is an unfortunate outcome for households despite being an expected move in line with market expectations.
President Jacob Caine said the hold scenario “offers little relief for households under financial strain” as the expensive Christmas period and end of year approaches.
“Today’s pause does not ease the pressure on mortgage holders,” he added. “With inflation still high and the labour market right, rate cuts are unlikely in the near term, meaning housing affordability pressures will continue into 2026.”
The REIA is calling for positive supply-side measures to combat the current pressure on households. In line with its previous messaging, the institute is calling for more build-to-rent projects, planning reforms and further social and affordable housing programs to improve housing affordability across the country off the back of this latest cash rate decision.
RBA: Global economy concerns are significant
3.01pm
Concerns around how the global economy is faring continue to be of concern to the RBA – a key issue flagged by the board today in the statement which accompanied its decision to hold the cash rate.
“Uncertainty in the global economy remains significant,” it read. “[The board] will pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the outlook for inflation and the labour market.”
Despite this, the statement also confirmed geopolitical issues have caused “minimal impact on overall growth and trade in Australia’s major trading partners” so far. The board has continuously flagged risks in the international economy this year, noting the volatility associated with war in Ukraine and the Middle East.
It comes as the Federal Reserve prepares to cut rates in the US this week, while the Bank of England is also tipped to provide more easing in Britain before the end of the year when it meets on 18 December.
Rate hold due to ‘uncertain’ new inflation data
12.46pm
The Reserve Bank has said the ABS’ all-inclusive CPI data is not yet established enough for it to use as an accurate measure for whether rates need to go up.
In a statement accompanying today’s decision to hold the cash rate at 3.60%, the RBA board said the new inflation spike is “due to temporary factors” and that there is “uncertainty about how much signal to take from the monthly CPI data given it is a new data series”.
It comes after the November CPI confirmed both headline and underlying inflation are outside of the RBA’s 2-3% target range.
“Nevertheless, the data do suggest some signs of a more broadly based pick-up in inflation, part of which may be persistent and will bear close monitoring,” the statement read. “There are uncertainties about the outlook for domestic economic activity and inflation and the extent to which monetary policy remains restrictive.”
Cash rate held at 3.60%
2:30pm
The cash rate has been held at 3.60% today, in line with expectations. It marks the third time in a row that the RBA has opted not to make any change to the rate.
The decision comes amid mixed economic signals, with recent data showing inflation remaining elevated while employment conditions show signs of softening. Although many borrowers may have anticipated a cut up until recently, the board’s decision to maintain the current rate signals caution and is in line with market expectations.
This was the board’s final meeting for 2025, concluding its two-day deliberations. The accompanying statement, expected shortly, will provide further insight into the factors driving the decision, including the bank’s outlook for inflation, growth, and labour market conditions.
It will also detail the level of consensus among board members and highlight any differing views, offering the market a clearer picture of the RBA’s policy stance as it heads into 2026.
Christmas spending likely to speed up inflation rise
2:14pm
The likely scenario of a rate hold in the next few minutes could come at a great cost for borrowers as we head into the new year.
Inflation often shows an uptick during the Christmas period, driven by a combination of seasonal demand and supply dynamics.
The RBA will be expecting households to spend big on gifts, food, travel, and entertainment in the coming weeks, while demand for goods and services usually also rises sharply in December. Seasonal promotions and limited time offers can also contribute to skewed inflation figures as businesses adjust to public spending patterns in the lead up to Christmas.
All this generally leads the bank to be cautious this time of year, with only one rate change — a 0.25% rise in 2022 — recorded in the last ten years of December meetings. The case for a rate rise remains very much in play, so we could see the RBA buck the trend.
Economist view: Hold decision expected
2:04pm
Having underestimated the recent rise in inflation in its forecasting, it’s not expected we will see a cut or a hike today. It’s anticipated the RBA will use the cash rate to help nudge inflation downwards, in line with its fiscal objectives. It’s also rare for the bank to make any change to the cash rate either way in December.
REA Group senior economist Eleanor Creagh said: “The RBA will need clear evidence that inflation pressures are easing once more before cutting rates again.”
Interest rates have already moved 75 basis points lower this year, marking a positive overall outcome for borrowers. Moving forward into next year, the outlook is less clear, with expectations that the current rate of 3.6% is likely here to stay for several months.
Should inflation continue to rise however, mortgage holders could be set for a jump in repayments as the cost of servicing their loan increases.
Bullock admits RBA is dropping the ball
1:45pm
The bank’s failure to keep inflation within its target range has seen governor Michele Bullock on the receiving end of plenty of criticism in recent weeks.
Most recently, Ms Bullock faced a barrage of questions when appearing at a Senate Estimates hearing, where she acknowledged the bank had not yet successfully tamed inflation.
While Ms Bullock has consistently communicated the importance of the board’s ‘dual mandate’ — that it priorities both price stability and full employment — she admitted to having been focused primarily on the latter during the year.
“Inflation has been out of target for a number of years, that is very, very true,” she said. “That is why the board has always said they want to get it back, but they want to get it back in a reasonable time and the reason for that is inflation expectations. Have we done it yet? No, we haven’t done it yet.”
Big banks have wound in expectations
1:31pm
After a rocky couple of months, all four big banks have re-assessed their expectations for the cash rate trajectory. Commonwealth Bank (CBA), National Australia Bank (NAB), ANZ, and Westpac are all agreed that today’s decision will be a hold.
Economists at CBA are now anticipating a prolonged period with rates at 3.60%, winding back expectations for a cut to the middle of next year. Likewise, ANZ have scrapped any earlier predictions for rate cuts in the near term. Off the bank of rising inflation, the bank now expects rates to stay on hold and has ruled out with cuts or hikes for the next few months.
Westpac is the most positive of the big four going into this afternoon’s decision, holding on to its prediction for a rate cut next May.
NAB is on a more conservative route, anticipating further easing will not be on the cards for borrowers until after May.
Home prices up 8.7% since this time last year
1:12pm
While the three rate cuts this year have helped increase borrowing capacities for expectant buyers, those looking to jump on the ladder or move are now grappling with an 8.7% rise in the cost of a median-priced home compared with 12 months ago.
The latest PropTrack Home Price Index confirms a 0.5% rise in November alone, with monthly gains across the country pushing national values to a fresh record high. The value of a typical home has jumped $77,900 in the past year to reach $873,000.
Underlying factors include limited supply, relatively strong demand, and improved buyer borrowing capacity. As a result, many homeowners are seeing significant equity gains, though affordability remains a challenge for prospective buyers.
With the market already facing a new inflation spike, the uncertain outlook could also see bowering costs increased and slower market competition.
Case for a rate hike very much on the table
1:02pm
A rate hold is almost inevitable if we are to go off market predictions, though a cash rate increase from the RBA this afternoon is not out of the question. Several key data points point in that direction, notably the sticky inflation that currently has both headline and underlying inflation outside of the bank’s all-important 2-3% target range.
Consumer demand and spending remain relatively strong with Christmas just around the corner however, meaning pressure on prices could persist unless borrowing costs are pushed higher to dampen demand.
While the labour and jobs markets are still in relatively stable positions, RBA governor Bullock has been under increasing pressure in recent weeks to make a quicker and more tangible impact on the market.
Critics have noted inflation has failed to be held within the bank’s target for the majority of quarters in the past five years as the country continues to recover from the economic fallout caused by Covid-19.
Inflation uptick continuing to raise concerns
12:45pm
Rising headline and underlying inflation became apparent in the lead up to the bank’s November board meeting after September quarter figures were published. This has continued to be a problem in the weeks since, with the latest data from the Australian Bureau of Statistics (ABS) confirming a trend.
Trimmed mean inflation, which leaves out volatile and one-off price movements, rose to 3.3% annually in October. This was up from 3.2% annually in September, with housing identified as the biggest contributor.
The data was the ABS’ first release of the “complete” monthly Consumer Price Index as it moves from a quarterly to monthly measure.
The higher-than-expected inflation figures make the prospect of a rate cut in the near future very unlikely. However, the minutes of the November RBA board meeting note the board could find itself in a situation where it is forced to cut rates if the jobs market weakens from its current state.
Markets pricing in a hold with certainty
12:27pm
The latest data from the Australian Stock Exchange shows that market expectations of a 25-basis-point cut to the cash rate are sitting at just 3% as of 4 December.
The RBA Rate Indicator calculates the probability of a rate change using market-determined pricing from the ASX 30-Day Interbank Cash Rate Futures. Its readings have remained broadly unchanged since mid-November and the release of the most recent Consumer Price Index figures.
With a 97% chance of a hold decision today, borrowers can approach Christmas and the end of the year with confidence that their home loan repayments are unlikely to shift in the immediate future. Stable rates provide welcome certainty during a period when household budgets are often under extra pressure.
However, if the RBA were to raise the cash rate by 0.25%, a borrower with a $500,000 mortgage at a current rate of 5.76% would see their repayments increase by around $80 a month.
RBA prepares to wrap up a rollercoaster year
12:13pm
Today’s meeting will mark the final cash rate decision for 2025, wrapping up what has been a volatile and rapidly changing year for monetary policy both in Australia and overseas.
The RBA’s first meeting of the year in February saw a long-awaited cash rate cut, bringing an end to a four-year dry spell for relief. The rate was lowered again in May to 3.85%, before being trimmed further to 3.6% in August.
Each cut decision this year has been interspersed with a hold. Decisions have been largely in line with governor Michele Bullock’s repeated messaging that the board would look to cut gradually and sustainably to try and avoid inflation rising again.
Despite this, a pickup recorded in the September quarterly inflation data has caused all likelihood of further easing to grind to a premature halt. If the rate isn’t held at 3.6% today, markets agree it is more likely to go up than go down.
Welcome to our live coverage of the cash rate decision
12:01pm
Over the next few hours, we’ll be bringing you real-time updates, commentary and forecasts as we wait to hear whether the cash rate will stay at 3.60% or perhaps be raised for the first time in more than 12 months.
After holding steady at its last meeting in November, pressure has mounted on the Reserve Bank of Australia (RBA) thanks to sticky inflation and more resilience in the economy. The present situation is a dramatic departure from forecasts only a few months ago anticipating the bank would use its final meeting of the year to make an historic fourth cut for 2025.
However, inflation is not likely to be deemed sufficiently under control to support lower borrowing costs, meaning a hold decision is far more likely.
We will look at what that means for borrowers, savers, homeowners and the broader economy as we wait to hear from the RBA for the final time this year.
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Borrowers hoping for another rate cut in the near future may as well give up hope, because the nation’s banks have signalled they know the future for the cash rate, and it’s not good news.
Banks have taken matters into their own hands recently, with a number of lenders hiking their interest rates on some loan products in advance of the RBA’s last cash rate decision for the year.
All up, eight banks have upped the interest on at least one owner-occupier fixed home loan product over the past week, while one bank has actually cut its interest rates on variable home loans for new customers.
When banks hike their fixed rates, it means they know the cutting cycle is at an end, or very close to, and they therefore don’t need to offer discounted rates to entice borrowers to lock in at a higher level than what variable rates are likely to drop to.
The banks to hike fixed rates according to Canstar monitoring were Macquarie Bank, Greater Bank, Newcastle Permanent, Bankwest, Pacific Mortgage Group, Police Bank, Queensland Country Bank and Suncorp.
The new average short term fixed rate on Canstar’s books for owner-occupiers is 5.10 per cent.
The lowest rate is Australian Mutual Bank’s 4.74 per cent for two-year and three-year terms, followed by 4.84 per cent from Pacific Mortgage Group, which is the lowest for one-year terms only.
It’s not just the big four banks that move independently of the RBA decisions.
For those wanting to fix longer term, 5.24 per cent is the best for four years and is offered by Firefighters Mutual, Health Professionals Bank, Teachers Mutual Bank, UniBank and Freedom Lend.
Australian Mutual Bank also had the best five year fixed rate at 5.19 per cent.
In this environment, banks can begin to offer discounts on their variable rate products, to get customers in before rates are eventually hiked.
P & N Bank was the one lender to cut its variable rates for select owner-occupier customers.
The average variable rate is now 5.51 per cent.
Geelong Bank currently has the lowest variable rate at 4.99 per cent, followed by in1Bank at 5.08 per cent.
Pacific Mortgage Group, People’s Choice, RACQ Bank, Heritage Bank, Mortgage House, Australian Mutual Bank and Freedom Lend are at 5.14 per cent, while Bank of China is offering 5.18 per cent.
At 5.19 per cent are unloan, Qudos Bank, The Mutual Bank, Greater Bank, Northern Inland Credit Union, The Capricornian, Queensland Country Bank, Virgin money and NRMA Insurance.
It goes to show that banks are their own beasts and the RBA decisions aren’t always the be all and end all of what happens with the market. Borrowers need to take control of their own destiny and be dialled in to what banks are doing on the sidelines.
RBA cuts are likely a thing of the past, at least in the immediate future. Picture: Nikki Short
Mortgage Choice CEO Anthony Waldron says borrowers should look at the factors they can control.
“You can’t change the cash rate, but you do have control over your home loan,” Mr Waldron said. “After three rate cuts this year, now is the perfect time to review how competitive your home loan is. If you haven’t checked your rate against the market in the last year, you are likely on a higher rate than you could be, so it’s a great time to chat to your mortgage broker.”
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It’s an exciting time to be entering the property market.
In Western Australia, areas like Mundijong in Perth’s south-east are proving popular with first homebuyers searching for affordability and rural-residential lifestyle appeal.
In the city’s north, Mariginiup and Bullsbrook are offering solid growth opportunities.
With the Australian Government’s 5% Deposit Scheme* (an expansion of the former Home Guarantee Scheme) coming into effect last month, buying a first home has become more accessible.
Data shows a 39.2% surge in applications for the scheme since it was expanded on 1 October, highlighting just how many first-time buyers are making their move.
With new government initiatives and growing neighbourhoods across WA, it can be an exciting time to be a first homebuyer.
8 questions to ask before taking the plunge
If you’re a first homebuyer looking to enter the market, your head may be swimming with countless questions.
To help narrow it down, the team at Homebuyers Centre WA, together with their partners Resolve Finance, have created a checklist of key questions to consider before starting your journey.
Homebuyers Centre are first home experts with finance, land and home all under one roof.
Here are eight frequent questions first homebuyers ask.
1. What can I actually afford?
Homebuyers Centre WA sales manager Scott Watson says a finance broker can help assess your financial situation and works with you to set a realistic budget, and get you finance-ready before you start property hunting.
A broker can also outline whether you’re eligible for stamp duty exemptions or government initiatives.
“First homebuyers choosing to build their first home will need to consider their land deposit and their build deposit,” Mr Watson adds.
“Both may vary depending on developer and builder.”
Finance brokers like Resolve Finance can help first homebuyers understand the cost involved with building a new home.
2. Should I buy established or build from scratch?
Mr Watson says the decision is personal and comes down to your individual situation and needs.
“The benefits of building your own home mean you’re getting a brand-new home, with new warranties (and) a design you truly love,” he says. “However, you will have to wait to receive your keys.”
If getting into a home quickly is a priority, buying established could be the way to go — noting it may still involve months of auctions and bidding.
3. Where are first home buyers getting real value right now?
About 45 minutes from Perth’s CBD, Mundijong is popular among first homebuyers.
The median house price is $756,000 and the suburb has seen an annual compound growth rate of 12.2% according to realeastate.com.au data.
Mariginiup and Bullsbrook are also hotspots, both within 40 minutes of the CBD.
Median house prices are $1,457,500 and $759,000 respectively according to realeastate.com.au data, with Mariginiup recording 16.6% growth and Bullsbrook an impressive 21.4%.
“Upcoming master planned communities in these areas allow first homebuyers to enter the market with affordable land options and provide the security and benefits of thriving communities of the future,” says Mr Watson.
With help from the experts, first homebuyers can find affordable neighbourhoods throughout Western Australia.
4. What kind of home suits my lifestyle and budget?
Mr Watson recommends separating essentials from nice-to-haves.
“Really understanding needs and wants will help set expectations about your new home and ensure you’re not missing out on the things you need to make your house a home,” he says.
Homebuyers Centre WA offers a range of designs to suit different lifestyles and budgets.
5. How do I secure finance without overcommitting?
Using a professional broker to match the right finance options to your needs is key to avoiding overspending.
If you’re building, look for a broker specialising in construction finance — such as Resolve Finance.
Some brokers, like Resolve Finance, specialise in construction finance and can better help first homebuyers budget for their new build.
6. What support or grants can I access in WA?
There are several initiatives to help first homebuyers enter the market.
The First Home Super Saver Scheme* allows extra voluntary super contributions to boost savings faster while benefiting from lower tax, ultimately to buy or build your first home.
The Australian Government’s 5% Deposit Scheme supports low-deposit buyers, single parents or legal guardians could buy with a deposit from as little as 2%.*
The First Home Owner Grant (FHOG) offers a one-off payment of up to $10,000* for eligible applicants buying or building their first new home.
“Always chat to your broker to see what you could be eligible for,” says Mr Watson.
7. Who do I need on my team?
Buying your first home can be daunting, so you’ll want a professional team supporting you.
Together with their partners at Resolve Finance and Parcel Property, Homebuyers Centre WA guides clients from finance, land selection and home design through to post-settlement care.
Having experts like Homebuyers Centre WA and Resolve Finance on your side can make the journey towards building your first home easier.
8. What’s the one thing most first homebuyers forget to ask?
Mr Watson says one overlooked question is, “What don’t I get?”
“The market is filled with noise around inclusions and promotions, transparency is understanding clearly what is included as well as what is not included, so there are no surprises,” he says.
Homebuyers Centre WA have made first homes happen for over 30,000 Australians, with a dedicated team helping them navigate their first home journey in three easy steps: Finance, Land, and Home.
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