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RBA Rate Cut: What It Means for Homebuyers, Investors & the Property Market

RBA Rate Cut: What It Means for Homebuyers, Investors & the Property Market

RBA Rate Cut: What It Means for Homebuyers, Investors & the Property Market

By Subhash Godara

RBA Cuts Interest Rates: What It Means for the Australian Property Market

The Reserve Bank of Australia (RBA) has officially cut the cash rate for the first time since November 2023, reducing it by 0.25 percentage points to 4.10%. This marks the first change in interest rates in over a year and is expected to have a major impact on homebuyers, property investors, and the real estate market.

Mortgage Repayment Relief for Homeowners

According to Canstar, borrowers will see significant savings on home loan repayments:

  • A $600,000 mortgage will see repayments drop by $92 per month

  • A $750,000 loan will decrease by $115 per month

  • A $1,000,000 mortgage will fall by $154 per month

With lower borrowing costs, many first-home buyers, upgraders, and property investors are expected to re-enter the market, boosting buyer demand and fuelling real estate activity.

Economists & Banks Predicted the Cut

The rate cut was widely expected, with all of Australia’s Big Four banks—ANZ, Commonwealth Bank, NAB, and Westpac—predicting the move. Additionally, Finder’s latest RBA Cash Rate Survey found that 73% of experts correctly forecasted the February rate cut, while 64% believe another reduction will come in May 2025.

What This Means for Housing Affordability & Buyer Confidence

Graham Cooke, Finder’s Head of Consumer Research, emphasized that the rate cut is “welcome news” for many Australians struggling with housing affordability.

“Many prospective homebuyers were sidelined as interest rates soared, delaying their homeownership dreams. With rates now falling, we can expect renewed confidence in the property market,” Cooke stated.

Similarly, Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia (REIA), noted that this move will help ease affordability challenges for buyers.

“While the job market remains strong, the cost of living—especially housing costs—has been a major concern. This rate cut offers some relief to mortgage holders,” she said.

Property Prices & Market Trends: What’s Next?

REA Group Senior Economist Eleanor Creagh highlighted that Australia’s inflation rate is now below the RBA’s forecast of 3.4%, paving the way for the interest rate cutting cycle to begin.

“With borrowing power increasing, buyer confidence will improve, and the recent price declines in the market could reverse,” Creagh said.

However, she noted that housing affordability is at its worst level in three decades, which may moderate property price growth compared to past rate-cutting cycles.

Will More Interest Rate Cuts Boost the Housing Market?

Goldfish Real Estate's Head of Research Team expects the RBA to make three more rate cuts by the end of 2025, although global economic factors could influence the pace.

“While banks may take time to pass on the rate cut, we’re expecting an increase in buyer activity, mortgage refinancing, and pre-approvals,” Tiller explained.

Looking at current real estate market trends, Tiller added that sales activity has remained strong, and this announcement could lead to stabilized property prices and an earlier-than-expected market recovery.

“With wage growth outpacing inflation, more households will have additional disposable income, making it easier to save for a home deposit. The lower end of the market should see an uptick in first-home buyers and property investors taking advantage of the rate cut,” he concluded.

Key Takeaways for Homebuyers & Investors

  • Lower interest rates mean reduced mortgage repayments, easing financial pressure on homeowners.

  • Increased buyer confidence could drive property price stability and market activity.

  • Housing affordability challenges persist, but falling rates could encourage first-home buyers to enter the market.

  • More rate cuts are expected, with experts forecasting further reductions in May 2025 and beyond.

As the Australian property market adjusts to this monetary policy shift, homebuyers, sellers, and investors should closely watch how banks respond and how market conditions evolve.

Disclaimer: Research is based on Goldfish Real Estate's general information and do not constitute any representation. Similarity with any other online resources available is not our responsibility and do held any liability.

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Farm Management Plan

Farm Management Plan

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FARM MANAGEMENT PLANS

This information sheet has been prepared to be used as a general guide for hobby farmers, new farmers, landowners who wish to seek to prepare a Farm Management Plan where they seek to get permits for dwelling, projects, grants, or financial assistance from the Department.

The purpose of the information sheet is to provide guidelines for landowners as to the purpose and content of a farm management plan, to assist in the preparation of any permit or development applications that may be required.

WHAT IS A FARM MANAGEMENT PLAN?

A farm management plan is a complete plan which shows what the property is like now, what you intend to do with it, how and when you intend to do things, and what the likely financial return will be.

It should describe the layout of the property, the physical characteristics of the land in terms of soil type, slope, conditions of rivers or streams, and other physical features including dams, wood lots, scattered trees, fences, and any physical improvements proposed.

The plan should also describe the current and intended use of the land as a farm. The plan should also indicate the site, size, and scope of any proposed developments. It should also give an indication as to the reason the proposed developments are thought to be necessary.

THE PURPOSE OF THE FARM MANAGEMENT PLAN

The Farm Management Plan is required by the Local Authority to assist the Planning Officers to make a judgment as to whether, if the intended development is carried out, the enterprise will meet Council’s planning guidelines.

These guidelines include planning, environmental, land use, zoning, cultural heritage, infrastructure, and community considerations.

Local authorities and departments are committed to maintaining agricultural land for agricultural purposes and to ensuring that inappropriate developments on agricultural land do not occur.

Activity on the land which would diminish the aesthetic value of the land, or which would have a negative effect and make it difficult for neighboring landowners to carry out their own legal and permitted uses of the land, could also be considered inappropriate land use.

The Farm Management Plan should demonstrate to Council what the landowner intends to do and also encourage the landowner to think more clearly about what is intended.

THE FARM MANAGEMENT PLAN IS A ROAD MAP FOR THE LANDOWNER.

The plan is required by Council to ensure that the Municipality maintains the ambiance of the countryside, and that non-intended uses are avoided, but the plan is also a road map for the landowner.

Landowners who develop a comprehensive farm management plan are then able to go ahead with the development in a positive way and avoid unnecessary work or expenditure.

A comprehensive farm management plan can help landowners avoid the pitfalls that can trap the unaware when taking on a new venture.

WHAT SHOULD A FARM MANAGEMENT PLAN INCLUDE?

The Farm Management Plan should include a thorough description of all of the land that makes up the farm.

It should describe:

  • The soil Type -is it red, grey, or black? Is it sandy, loam, or chocolate?
  • Pasture species and condition.
  • Internal fencing is both current and intended.
  • Water storage and sources of water.
  • The method of supplying water to livestock.
  • Areas of trees and remnant vegetation from which livestock will be excluded.
  • Any soil damage or existing erosion.
  • The availability of power and other services.
  • Both current and intended access to and through the property.
  • A description of the state of the property with regard to vermin and noxious weeds.
  • The intended use of the site.
  • A description of proposed buildings and other improvements.
  • A description of the intended farming enterprises.

COUNCIL MAY ALSO REQUIRE INFORMATION ON:

The current physical condition and the present use of all adjoining land. In describing the physical condition of the land, the criteria set out above should be used.

As part of the Farm ManagementPlan, Council will consider whether the intended use of the site meets the general Municipal requirements for future development.

In considering this, it is essential that the plan describe the enterprises to be run in some detail. It would be useful if the plan demonstrates that the intended enterprises are currently run elsewhere nearby.

Where this is not the case, the plan will need to demonstrate from research conducted, that the soil type, water availability, and climate will be suitable for the intended use.

ECONOMIC OUTCOMES OF THE PROPOSED USE

It is not an absolute requirement to be able to demonstrate that a farm will be profitable. However, it is important to be able to demonstrate that the land will be used productively and that it will give an economic return both for the investment which is made and for the annual expenditure

In order to demonstrate the economic outcome, it is necessary to show the total value of the investment on the intended enterprise and to demonstrate annual costs and returns. It is important that these costs and returns are realistic.

MANAGEMENT OF THE PROPERTY

The Farm Management Plan needs to demonstrate how, and by whom the property will be managed. It should demonstrate the current level of expertise and or knowledge of the manager and other people involved. Where the expertise or knowledge to carry out the tasks is insufficient, the plan should outline the actions, which will be taken in order to address that deficiency.

 

ENVIRONMENTAL OUTCOMES OF THE PROPOSED LAND USE

It is important that landowners consider the environmental outcomes of the proposed land use. In particular, the plan should address the removal and or minimization of any vermin and noxious weeds.

The plan should also address any off-site effects of the intended land use, for instance, nutrition loss, smell, noise, and other environmental aspects, which may be important in some specific sites. On some sites, there could be rare species of plants or animals which Council and the community generally believe should be afforded some level of protection.

TIME FRAMES

It is important that the Farm Management Plan sets out the intended timing of any proposed development and the order of the proposed development so that a judgment can be made as to the state of the general appearance of the property during development.

IS A HOUSE REQUIRED?

If, as part of the farm management plan, you intend to build a house, there needs to be a justification in the plan as to why that house would be necessary. It is not automatically the case that a farmer must live on the land that is being farmed, and it is a requirement of the plan to build your case as to why you require a dwelling. It is also necessary for individuals to provide real evidence to show that the property in question will be able to be developed, and then will be sustainable in the long term. It is also necessary to demonstrate that the proposed rural enterprise is compatible with existing land use and will not have a detrimental impact on adjoining properties.

HOW TO DEVELOP YOUR PLAN

There are a lot of people who can help you with your plan.

A neighbor with a well-laid-out, tidy property will understand the balance of decisions surrounding soil, water, fencing, and shelter.

An Agronomist can provide you with specific advice on soils and pastures, weeds, and vermin. The Department of Primary Industry(DPI), Rural Suppliers, and private consultants all employ agronomists.

The above information is based on general advice and information, to understand expectations and framework only local councils can advise about this. If you need expert advice, we recommend appointing Farm Planners (DPI and Private). Farm Planners advice from the overall layout of the farm, advice on water supply, the positions of dams, tree plantation, vegetation protection and other most important information which are required in the plan to include and demonstrate.   

CHECKLIST – Move-in and out cleaning

CHECKLIST – Move-in and out cleaning

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It is always a stressful time when moving in or out of the property. There are lots of things to manage so this transition can be smooth and without any stress. Our intention is to undertake a FINAL INSPECTION to prepare an EXIT CONDITION REPORT based on the ENTRY CONDITION REPORT of your rental property as soon as possible after you hand your keys in at our office.

It is better to WALK through the PROPERTY on the DAY when you are HANDING OVER the KEYS… schedule a meeting for the day with one of the Property Managers. You will need to ensure that the items on the CHECKLIST listed below have been given due attention to make it presentable:

General:

  • Carpet steam cleaning to be carried out by a professional contractor - a receipt will be required Hire machines are not acceptable; Highly recommend MUST be booked for the day before you handover the key;
  • Pest control for fleas is required when a dog or cat has been kept or permitted on the premises;
  • Clean all windows, doors, sliding doors, window tracks, fly screens, and security screens;
  • Vacuum all sliding door tracks and wipe;
  • Sweep and mop all floors, removing marks;
  • Clean light fittings, remove all cobwebs (remove light fittings and wipe out dead bugs);
  • Clean marks off walls and light switches;
  • Wipe down and remove all dust from skirting boards;
  • All curtains and blinds to be taken down and cleaned;
  • Window & window sills to be cleaned inside and out;
  • Clean all ceiling fans (is applicable);
  • Please turn off the main power switch in the electrical meter box;

Kitchen

  • Inside and outside all cupboards and doors
  • Inside, outside, and around the stove, grill, and oven
  • Inside, outside and behind refrigerator and dishwasher
  • Exhaust fans and filter
  • Sink, especially drain holes
  • Rangehood and filter (filter can be removed and cleaned)

Bathroom

  • All floors, mirrors, windows, and window tracks
  • Inside and outside all cupboards
  • Toilet, bath, glass screens, and sink
  • Grouting to be free of all soap, residue, and mildew
  • Clean inside built-in wardrobes and mirrored doors (wipe over scuff marks)
  • Clean all ceiling exhaust fans in bathrooms & toilets

Laundry Area

  • Inside, outside and behind the washing machine, rinse out the filter.
  • Inside, outside and behind the dryer, remove lint.
  • Clean laundry tub (inside the bottom cupboard of the tub)
  • Clean ceiling exhaust fans.

Alfresco or Outdoor pergola or Veranda

  • Sweep and mop, clean railings, and any perplex glass.
  • Remove all cobwebs.

Garage or Sheds

  • Sweep out and remove any oil residue from the concrete.
  • Remove all cobwebs.
  • Empty any bins and remove all rubbish (put the bin out if it is full).
  • Close garage door.

Front and back yards

  • Lawns and gardens to be mowed, gardens weeded and left tidy.
  • No rubbish is to be left on the property.

If furnished

  • Make sure that all items are in original rooms as per inventory and have been cleaned.

ADDRESS UPDATE: Who needs to know about your current address?

When you move to your new home there will be a number of people and organizations you will need to notify.

The following CHECKLIST includes some of the most common; we suggest you use it as a basis for creating your own personalized list to make a smooth TRANSITION.

Personal

  • Family, Friends, and Relatives
  • Government Agencies (VicRoads, Taxation Office & Electoral Commission)
  • Employer
  • Medical (doctor, Medicare, insurance)
  • School/university
  • Clubs and associations
  • Finance (accountants, banks, credit cards, and superannuation)
  • Insurance (contents, health, building, motor vehicle, special items)
  • Department stores (accounts, store cards)
  • Utility Connections (Electricity, Water, Gas, and Telephone)
  • News or Travel agency

The Day when you hand over the keys

  • Do a final walk-through with this checklist to ensure your property is in the correct handover state to avoid any tenancy disputes with your rental bond.
  • Your carpets should be professionally cleaned by today;
  • External areas returned to the same condition as the beginning of the lease;
  • Bins emptied or placed out on collection point securely;
  • Organize your keys and remote controls for all locks are ready to be returned;

Date of disconnection:

Make sure Electric and Water connections must be scheduled for disconnection for the next day of vacation date so Estate Agent can ensure all electricity’ equipment are in working order, and you take picture of meter readings;

Mail/Letter Diversion: consider the letter and mail diversion options at the local post office or online to divert for at least 2months so you won’t miss any important communication.