Redlend Weekly 04
Edition 04 - 17 August 2026
I hope all have had a great weekend.
Not a lot to report at my end. A weekend of firefighting duties. A few lender updates with sub 6% rates and refinance cashback offers. Feel free to get in touch to learn more.
Talk Soon!
Adam
This Week…
RBA Holds Cash Rate at 4.35%
Is Your Offset Actually Working?
Property and Suburb Spotlight in Mont Albert
Mortgage News
RBA Holds Cash Rate at 4.35%
The RBA has left the cash rate unchanged at 4.35% at its August meeting. After three rate rises earlier this year, the RBA says inflation remains too high and is not expected to return to the middle of its target range until late 2027/early 2028.
For borrowers, the message is simple: rates remain higher for longer, and reviewing your current home loan could be worthwhile to make sure you’re still getting a competitive deal.
RBA Holds Rates – But What Happens Next?
The RBA has left the cash rate unchanged, but the bigger story is what it said about the months ahead.
The RBA expects the Australian economy to slow, with unemployment gradually increasing. However, inflation is proving more persistent than hoped and is now expected to return to the 2.5% midpoint of the target range only in early 2028.
For borrowers, this means we shouldn't assume rate cuts are just around the corner. The RBA is still watching inflation closely, and its latest forecasts suggest higher rates may be with us for longer than many borrowers were expecting.
Don't base your mortgage strategy on where you think rates are heading. Make sure your current loan is competitive today.
Mortgage Tip
Is Your Offset Actually Working?
Recent ASIC findings revealed that some borrowers were charged extra interest because their offset accounts weren’t correctly linked to their home loans. Banks have already paid more than $55 million in compensation for offset account failures.
So, if you have an offset, take 2 minutes to check it.
Log into your banking app and confirm:
Your offset account is showing as linked to the correct home loan
Your loan balance is being reduced by the offset balance when interest is calculated
The interest charged looks consistent with the balance you have sitting in your offset
It’s a simple check that could potentially save you thousands.
Don’t just assume your offset is working check it. Asky your mortgage broker or contact your bank directly.
Property Spotlight
Mont Albert - Victoria
Property Spotlight: A Little Renovation Could Add More Than Just Style
2/7 Gilbert Street, Mont Albert VIC 3127
I am a believer that the best property opportunities aren't the biggest or flashiest, they're the ones where you can see potential to add value.
This neat two bedroom villa in Mont Albert has a price guide of $700,000–$770,000 and offers low maintenance living. It features polished timber floors, a renovated kitchen, private courtyard and single lock up garage.
One of the features that caught our eye is the bathroom renovation.
A well planned renovation can do more than simply improve the look and feel of a property. If the improvements are right for the market and the property is purchased at the right price, they may also contribute to an increase in the property's overall value.
And that's where things get interesting from a mortgage perspective.
Imagine buying a property that needs some cosmetic updating, completing a quality renovation and then having the property revalued.
If the property's value increases, that additional equity may potentially be used to help fund your next property purchase, further renovations or other investment goals — subject of course to lender policy, valuation and your individual borrowing capacity.
It's one of the reasons we often encourage buyers to look beyond simply asking:
"What can I afford to buy?"
and also consider:
"What could I improve?"
For a buyer looking for a manageable first step into the property market, a low maintenance home with renovation and value add potential can be an interesting strategy.
Here is what the numbers could look like…
Approximate numbers for general information only, this is not financial advice and individual circumstances will vary.
We will base this as a First Home Buyer on an Australian Government 5% Deposit Scheme
Assume a Sale @ $770,000 ( always risky for an Auction)
A Deposit @ 5% = $38,500
Stamp Duty & Government Fees @ $43,306
Conveyancing & Building Pest Inspection @ $3000
Funds Required $84,807
Monthly Repayments @ $4625
Based on 6.5% Interest Rate, 30 years, Principal & Interest
Suburb Spotlight
Mont Albert, VIC 3127
Located around 13km from Melbourne’s CBD, Mont Albert is an established eastern suburb with a relatively small footprint of around 1.7 square kilometres. The suburb has a population of approximately 4,900 people and has seen modest population growth over recent years.
One of the interesting things about Mont Albert is the level of owner occupancy. Around 69.6% of homes are owner occupied, with the average length of ownership sitting at approximately 19 years. This points to a suburb with a strong base of established homeowners and relatively long-term residents.
Mont Albert sits firmly in Melbourne's higher value property market.
Over the past 12 months, the median house sale price was approximately $2.235 million, with the middle 50% of sales falling between roughly $1.745 million and $2.764 million.
For units, the median sale price was approximately $860,000, with the middle 50% of sales ranging from around $750,000 to $1.1 million.
There were 36 new house listings over the past 12 months, compared with 12 currently listed suggesting buyers are dealing with a relatively limited amount of stock at any one time.
Mont Albert is a suburb characterised by established housing, long term ownership and a predominantly professional population. The high level of owner occupancy and lengthy average ownership period are two of the key characteristics that stand out from the data.
For buyers looking in the area, the main challenge is likely to be the price point, particularly for houses, with the median sitting above $2 million. Units provide a more accessible entry point, with a median of around $860,000.
Property data supplied by Cotality. Figures current as at 17 August 2026 and provided for general information only, not personal financial or property advice.
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Whether you're buying your first home, refinancing, investing or just looking for some guidance, I'm always happy to have a conversation.
No pressure. No obligation. Just honest advice to help you make informed property decisions.
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