Mozo Live: Top property suburbs, Rabobank leads on savings, RBA rate cuts may be on the way

Today’s blog is now closed. You can follow banking news and interest rate decisions on our latest live blog.

Despite the fact that Rabobank dropped its High Interest Savings Account by 0.15% after the Reserve Bank’s February rate cut, it still holds top spot in the Mozo database for introductory savings products at 5.45% p.a. 

This is a big deal when savings rates are in a bit of a downward trend, with the average introductory rate in the Mozo database currently at 4.77% p.a. and the median at 4.90% p.a.*

Of course, this intro rate of 5.45% p.a. is only for the first 4 months of the account opening. After that time, it reverts to 4.10% p.a. 

And yet, this is still noticeably better than the average for ongoing rates of 3.40% p.a. and the median ongoing rate of 4.00% p.a., as per the Mozo database.

These paltry averages well and truly position Rabobank’s High Interest Saver as captain in the piggy bank clubhouse, and underscore its selection as a 2025 award winner in the ‘Kick Start Savings’ category of the Mozo Experts Choice Awards.  

Such accounts are selected for savers looking to take advantage of market-leading introductory rates that get them off to a “good start.” The calculation to determine this uses the total returns for the first 12 months of saving.

Rates are not the only thing to consider however, as there are a few other standout features of this account including no fees, no minimum balance, no minimum monthly deposit and no minimum term.

Keep in mind that there are a range of conditions to meet to get the top rate on offer, including that you must link to a Rabobank transaction account. 

Finally, I've taken these points straight from our database, so what you read here isn't a plug but rather the facts of the matter. But if you’re keen to do some comparisons of your own, be sure to check out our Savings Account hub page. 

Otherwise, you can learn more about Rabobank’s savings offerings here. 

*Figures are based on $10,000 of savings.

That's a wrap for today folks! Join us again tomorrow for more interest rates, personal finance and banking news. Until then...

Property research firm PropTrack has done some handy analysis to find the top investment suburbs around Australia.

Property investment usually means a given buyer is looking to make a financial gain, as opposed to just finding a place to live. For this reason, data scrutiny on price is important.

(The right loan for investment should also be top of mind. But more on that in a moment).

So what are the focal points of the data?

Median prices: suburbs with median house and unit prices of less than the national medians of $868,000 and $654,000, respectively.

Annual price growth: only included suburbs with year-on-year price increases of more than the national median price growth of 4% for houses and 3.6% for units.

Rental yields: suburbs which had gross rental yields of more than the national percentages of 4% for houses and 4.9% for units.

The results?

From its 100 most affordable suburbs list, PropTrack selected 37 areas as ideal for investment, most of which were for houses, some for units and others for both. 

Some of the top named suburbs from the study for house investment include, Rockhampton (Qld), Mandurah (WA), Geraldton (WA) and Broome (WA).

Meanwhile, Wright (ACT), Bassendean (WA) Coomera (Qld) and Robina (Qld) were named near the top of the unit investment list. 

You can see the full PropTrack lists here.

How does this help?

Buying a property in your local area might be more costly than your budget, and therefore your home loan, too, might end up being much larger than you want. 

It pays to broaden your search and these sorts of studies can help pinpoint better value for money, hopefully bringing your initial outlay down. 

If you're looking to invest in property, be sure to review some of the top investment home loans in the Mozo database, hand-picked by our money experts. 

The odds of a rate cut in May have just been upgraded. According to the latest quarterly economist poll by The Australian Financial Review, the Reserve Bank of Australia (RBA) is now widely expected to slash the cash rate sooner – and possibly further – than previously forecast.

Of the 40 economists surveyed, 29 are tipping the RBA to cut the official cash rate by 25 basis points to 3.85 per cent next month. And they’re not stopping there. Many believe at least one more cut is on the cards before the year’s out. Here’s how the May forecasts stack up:

So, what’s driving this shift in sentiment? Rising fears around Donald Trump’s tariff regime. Markets are spooked, and central banks across the globe, including the RBA, are under pressure to act decisively.

Adding weight to this expectation, ANZ Research revised its outlook , now anticipating three consecutive 25 basis point cuts in May, July, and August, bringing the cash rate down to 3.35 per cent by August.

“ANZ Research would not rule out a 50 basis point cut in May, if sentiment sours and the global growth outlook deteriorates sufficiently,” ANZ Head of Australian Economics Adam Boyton said.

It’s a big pivot from just a week ago when expectations were more cautious. But with uncertainty brewing overseas, the RBA could be preparing to move aggressively, soon.

While further rate relief could be on the way, you don’t have to wait for another cash rate decision to negotiate a better rate on your existing home loan. Compare refinance options on Mozo and start saving now.

Good morning and welcome back to Mozo's live blog! Stay tuned as we dive into this week’s news.

Westpac customers topping up their mortgage or applying to refinance may be invited to take part in the government’s new household energy performance rating trial for existing homes. 

Eligible participants in the Nationwide House Energy Rating Scheme (NatHERS) will receive a free home energy rating certificate from a qualified assessor. This assessment will help identify opportunities to improve energy efficiency and support home improvement plans aimed at boosting comfort and reducing energy costs.

The trial certificate customers receive will include:

• a NatHERS star rating (out of 10)
• a home energy rating (out of 100)
• a breakdown of the energy used by household appliances
• estimates of the home’s annual energy use and greenhouse gas emissions
• the home’s renewable energy profile (if relevant).

These trials are intended to gather insights to enable a smooth rollout of energy ratings across existing housing by government and industry, once the scheme launches from mid-2025.

Feel that you’re paying too much for your energy bill? See over 160 energy plans from leading electricity and gas providers in Australia and compare plans to find out if you could save by making the switch.