Hi all,
Welcome to our October update. In this month’s update, we’ve looked at the latest rate changes and what is happening across the property market. Please see below a link to Tom’s run through of the updates:
Interest Rate Update
At its latest meeting on 29 September 2026, the RBA increased the cash rate by a further 0.25% to 4.60%, its highest level since 2011. The RBA cited that inflation remains higher than expected due to domestic capacity pressures, climbing global energy prices, and supply disruptions.
Please see below table showing how much your monthly repayment will increase after the recent rate increase, you can also use this calculator.
Major lenders, including CBA, NAB and Westpac, are predicting rates to hold for 2026, however ANZ is tipping 1 more rate increase in November 2026.
Lenders have been increasing fixed rates in the lead up to this expected rate increase. Some fixed rates are around 6.50%, however majority are now up around 6.7-7%. If you wanted to discuss fixed rates further feel free to give Tom a call or book a time Link
Property Prices
The property market struggles continue, Cotality’s (formally CoreLogic) monthly update shows ninth straight month of declines for Melbourne property, with prices down 3.9% in the last three months and 4.7% in the last 12 months.
Source: Cotality
Property values are falling due to several factors, with lower new listings and less demand having a big impact. Higher mortgage rates, reduced borrowing capacity and cost of living pressures are continuing to impact buyer demand and confidence. Total new property listings is down 17% on last year but total advertised supply remains above average due to the low demand and build-up of stock on the market.
Rule Changes – Property Pricing and Sales
New laws have changed how Victorian real estate agents provide price information for residential property sales. The changes aim to improve price transparency, reduce underquoting and make the process fairer.
Most changes took effect on 1 October 2026 with the new requirements applying to auctions and fixed-date sales on and from 16 October 2026.
The major updates are below:
- Sold prices must be published after sale – agents must update the new Property Price Statement (PPS) with the sold price 7 days after the unconditional sale of the property.
- Real estate agents must publish the seller’s reserve price at least 7 days before an auction or fixed-date sale. An example below:
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