Several factors are shaping the outlook for 2025. The Reserve Bank of Australia’s decision to keep the cash rate at 4.35% throughout 2024 compressed net interest margins, but potential rate cuts this year could add fresh challenges for banks, albeit with less impact than during the pandemic due to stronger loan books.

Luxury market reshuffle. Australia’s luxury property market is undergoing a significant shakeup. The Gold Coast has surpassed Melbourne as the second most expensive luxury market, with Brisbane and Adelaide showing strong growth.

"Our base case is for the RBA to commence normalising the cash rate in February 2025 with a 25-basis-point interest rate cut. We look for 100bp of easing over 2025 that would take the cash rate to 3.35%,” Aird said.

Failure to comply could tie up hundreds of thousands of dollars. Previously under the FRCGW, which was originally established in 2017, only foreign property owners and Australian resident property owners with homes valued at $750,000 or more had to have the certificate.

Australian mortgage news, featuring new lender products, developments in alt lenders, and all the news Australian mortgage brokers and finance experts need.

Westpac reported a slight dip in net profit to $7 billion, marking a 3% decrease, while announcing a 76-cent final dividend per share and a $1 billion extension of its share buyback program.

Cashbacks and cost of living discussed. Brown, who joined NAB in 2007 and assumed his current role in October, addressed broker issues in the bank's final Forward View Market Update for the year.

As 2025 begins, the ANZ-Roy Morgan Consumer Confidence Index has experienced a significant uplift, rising by 3.6 points to reach 87.5, marking the highest start to a new year since 2022.

“We have delivered considerable portfolio simplification over recent years, and after a thorough review, have decided that offering home loans through RAMS franchisees is not right for Westpac,” said Damien MacRae (pictured above), Westpac managing director mortgages.

Industry's top performers announced after prestigious event. Liberty Australian Brokerage of the Year is a national award that is chosen from excellence awardees in these categories: Brokerage of the Year (1-5 staff); Brokerage of the Year (6-20 staff); Brokerage of the Year (Over 20 staff); Brokerage of the Year – Diversification; Brokerage of the …