The world’s most important central bank kicked off its rate-hiking cycle yesterday, and now everyone wants to know one thing: how high will Canadian rates go?

That includes economists, some of whom were calling for Bank of Canada rate cuts earlier this year and have since done a full 180, now predicting hikes will come sooner than expected. (Gotta love forecasting: where conviction has a shelf life of about six months.)

But there’s a wrinkle. The Bank of Canada’s preferred inflation gauge — average core inflation — is still sitting below target at 1.95 per cent. So some skeptics don’t see enough pass-through from oil, tariffs and the rest to justify a serious hiking cycle.

Predicting how much rates will rise is a great way to become a screenshot on social media, so I’ll pass.

But here are three things that might help you size up your rate risk.

#1. Don’t let low core inflation fool you

The fact that our central bank’s favourite inflation measure is sitting below two per cent doesn’t mean a hike is off the table.

I went back through the record and found 38 instances where Canada’s prime rate rose even with core inflation at or below 2.0 per cent.

They came in clusters — 1992–2000, 2002–2006, 2010, and 2017–2018 — all periods when core inflation ran persistently below target, meaning the central bank was tightening largely for other reasons.

#2. The Bank of Canada doesn’t hike just once

If a hiking cycle does arrive, don’t expect our central bank to stop at one. It never has.

Governor Tiff Macklem all but confirmed as much at his Sept. 2 press conference, saying to expect “more than one increase” if tightening begins.

History, since the dawn of inflation-targeting, shows hiking cycles last about 2.5 years on average, with the Bank of Canada hiking just over 2.75 percentage points over that stretch.

That said, plenty of people think this cycle won’t need to be an “average” one, given:

• The GDP hit from our deteriorated U.S. trade relationship
• The limited scope of inflation (mostly energy-related)
• An economy that still has slack (“excess supply” as policy makers call it)
• Trump may hit us with more tariffs or trade restrictions before he’s out of office
• AI’s potential impact on employment.

Deep hiking cycles are usually the central bank’s answer to an overheating economy, and overheating is not exactly our problem right now.

Here’s some other context to anchor expectations:

• The shallowest hiking cycle in modern records was just 75 basis points, back in 2010.
• The central bank could hike 100 basis points and still be at “neutral,” the point at which rates are still not restricting the economy (theoretically, anyway).
• The Bank of Canada’s estimate of neutral ranges from 2.25 per cent — where we are today — to 3.25 per cent.

Put all this together, and the bond market’s implied 125 to 150 basis points of coming hikes seems reasonable, especially if inflationary tariffs and extreme oil prices are out of the picture by next year.

#3. Hope for the best, plan for the worst

If the Middle East conflict escalates, or tariff costs seep through the economy more broadly than expected, this cycle could end up being worse than average. In other words, it’s worth having a plan.

If that’s keeping you up at night, here’s your to-do list:

1. Run your mortgage through a payment calculator to estimate how much your payments could jump — either at renewal or right away if you’re on an adjustable rate.
2. Estimate how much leftover income you’ll have if rates rocket 200-plus basis points higher.
3. If your budget’s already tight, find something to cut back on to start building a savings buffer now, before you need one.
4. Consider refinancing while you still can — to pull out equity while home prices are stable, stretch your amortization for more payment flexibility or line up a HELOC as backup liquidity

In the meantime, we all need to keep watching the headlines — especially with oil, AI’s growth impact and the market’s reaction to the budding U.S. fiscal crisis.

Six weeks from now, the Bank of Canada meets again and we’ll get a clearer read on its intentions. Given what’s at stake, Governor Macklem might give us a few hints on his thinking before then.

• The best mortgage rates in Canada right now
• The best reverse mortgage rates in Canada right now

Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.

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US funds management giant Hines is in talks to buy the 121 Castlereagh office complex in the heart of the Sydney CBD from Cbus Property in a deal worth about $220m.

The deal is a shot in the arm for the office market, which is digesting an unprecedented flood of towers hitting the block as vendors look to sell out in a $10bn rush to market ahead of higher bond yields hitting valuations.

Cbus Property is selling premium offices as it pours funds into new projects and recently sold interests in 5 Martin Place, Sydney, and in Melbourne’s 171 Collins Street, to Mirvac’s flagship office fund for close to $640m.

The impending 121 Castlereagh deal is being struck at an initial yield of about 6.1 per cent, showing the ongoing demand for premium office space, which is forecast to perform strongly over the remainder of this cycle as the office market shifts into recovery.

The property at 121 Castlereagh, Sydney

Buyers are chasing high-quality assets while lower grade buildings are coming under pressure as tenants seek to upgrade. The building at 121 Castlereagh Street is part of the larger mixed use redevelopment of the former David Jones menswear store.

Retail property heavyweight Scentre Group and Cbus Property purchased the historic David Jones Market Street building in Sydney’s CBD for $360m in 2016.

They transformed the Sydney CBD landmark in Sydney’s Hyde Park precinct that was originally built in 1938. Scentre handled the retail while Cbus Property had carriage of the offices and luxury apartments in Sydney’s Hyde Park precinct.

Hines is buying the six-level premium office stratum which sits over the expanded Westfield Sydney luxury retail precinct.

Completed in 2025, the original site was redeveloped into 11,500sq m of premium office space where workspaces are connected by a central atrium that draws in natural light. Tenants include APA, The Commons and The Mint Partners.

Hines is keen to boost its exposure to Australia’s office sector, partly as minimal new supply is expected from 2027 onward, positioning the sector for a fundamental rebound and above-average forward rent growth.

The recovery dynamic is also backed by the supply of A-grade space tightening meaningfully over the past 12 months. Sydney office leasing demand has also been on a positive trend, though tenants remain selective, with demand concentrated in high-quality CBD assets.

The deal is being brokered by Cushman & Wakefield’s Josh Cullen and Mark Hansen and Ray White Commercial’s Ian Hetherington and Ursula Hunt.

They and the parties declined to comment but the building also drew interest from Hong Kong-based PAG and local real estate funds group AsheMorgan.

The prime-grade office tower spans 11,480sq m and it is underpinned by a 6.82-year weighted average lease expiry, with a fully leased net income of $14.38m.

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Every so often, the mortgage industry decides to hike rates in unison. This week was one of those times.

Most lenders bumped up multiple fixed rates , with fan favourites — three- and five-year fixed terms — climbing 10-plus basis points.

Zoom out a month, and they’re up 20 to 25 basis points in total.

For this, one can blame Canada’s benchmark five-year bond yield and the factors behind it. It’s run up 50 basis points since early August and dragged fixed rates along for the ride.

Variable rates , meanwhile, are having a moment. Discounts have improved noticeably in recent weeks. And wouldn’t you know it, that always seems to happen right as markets start pricing in near-term Bank of Canada hikes.

As we speak, you can find national lenders advertising prime — 0.90 per cent (3.55 per cent) or better.

Regional players (e.g., Ontario’s Ratebuzz.ca ) are undercutting that at prime minus one per cent (3.45 per cent). Hint: you might find some big banks and deep-discount brokers willing to do the same if you’re well-qualified and ask nicely, especially if you’re up for renewal.

These rates are 20-plus basis points better than what you could find just a few months ago. And if your mortgage is insured, you can lop off another 15 to 25 basis points.

With fixed and variable pricing moving in opposite directions, the gap between them is stretching like taffy. Based on the lowest nationally advertised insured and uninsured rates, this gap stands at roughly one percentage point today.

And despite all the rate-hike talk, roughly half of borrowers are still choosing variable rates. Their reasoning:

The upfront savings are real and immediate.

They’re hoping (praying?) that the Bank of Canada won’t hike more than the market is currently implying (125 to 150 basis points).

Due to government rules, today’s federal “stress test” calculations make qualifying easier with a variable.

Variable prepayment penalties are cheaper if your plans change.

Whether that bet pays off is anyone’s guess. It didn’t in 2022 — but maybe this crop of rate floaters will have more luck.

• The best mortgage rates in Canada right now
• The best reverse mortgage rates in Canada right now

Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.

Looking to save on your mortgage?

For the best national insured and uninsured mortgage rates, updated daily, please visit our mortgage rate page here .

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Sydney’s suburban office market is being dramatically reset with more than $400m worth of transactions in train across major centres and more deals in the works likely to confirm the slide.

Fresh sales are being struck in hubs including Parramatta, St Leonards, and Chatswood, with more activity on the city’s north shore to come, showing that values have not recovered after the shock of the pandemic.

The transactions, struck by listed groups, developers and offshore investors, will reverberate through the market as other landlords mark their portfolios down.

Institutions have now shifted focus to chase assets in the central business districts, leaving a mix of private buyers and syndicators to return to suburban markets.

However, the fall in values shown by the recent run of selling is in keeping with expectations, showing that liquidity remains for well-leased assets, with buyers also willing to bet on a turnaround.

Listed property giant Dexus struck the largest sale of late, ­quietly offloading a major Parramatta tower, with more assets to come to market.

Dexus and its office partner, Canada’s CPP Investment Board, sold 101 George Street in the western Sydney hub for about $145m in the largest finalised suburban deal. They are now readying to bring a block in Sydney Olympic Park to market.

Dexus has sold office towers across Parramatta and the north shore.

The Parramatta block was sold to private company Sandran Property Group. The parties declined to comment but the buyer has an extensive track record across the nation’s suburban and regional office markets.

The Paramatta deal was brokered by Colliers’ John McCann, Adam Woodward, and James Mitchell and CBRE’s James Parry and Mitch Noonan.

The A-grade office building spans about 18,100sq m and is anchored by the Department of Home Affairs.

The vendors held the asset at about $154m on a market capitalisation rate of 7.5 per cent.

The buyers of suburban assets are keen to capitalise on the emerging lack of supply of new office space which is expected to support rentals in coming years.

Fund manager Acure Asset Management is buying two A-grade office buildings on Sydney’s north shore for a new unlisted fund for $278m in total, according to documents obtained by The Australian.

It is buying 558 Pacific Highway in St Leonards from its developer, Chinese-backed company JQZ, for $170m.

The 17,394sq m complex has 14 levels and the price shows a yield of 9.47 per cent.

That is being handled by Colliers’ Matthew Meynell and Tyler Talbot and CBRE’s Mitch Noonan and James Parry.

Acure is also buying the 67 Albert Avenue in Chatswood from Singapore’s Mapletree Investments for $108m.

The 15-level complex spans 14,686sq m of space. It is about 81 per cent occupied and major tenants include the NDIS, CMC Markets and Link Housing.

The Chatswood deal will show a 10.4 per cent initial yield. Mapletree had bought the building from RF CorVal for $158m in 2018.

The Chatswood sale is being brokered by Cushman & Wakefield’s Jack Harrison and Mark Hansen and Colliers’ Mr Talbot and Mr ­Mitchell.

Acure told prospective investors that the new trust was a “compelling opportunity” to secure institutional-grade offices with embedded rental growth and multiple value creation opportunities through active asset management.

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A wealthy publican family have shelled out about $100m to buy the Royal Oak Double Bay hotel in Sydney’s wealthy Eastern Suburbs.

Described as a ‘big country pub in the city’ the hotel had been owned by the Malouf brothers – Jamie, Justin and Ed – since they purchased it back in 2011.

Replete with 21 pokies, the hotel fronting Bay Street, Double Bay, was sold in an off-market deal to the Ryan family, which owns a spread of pubs throughout Sydney including the Ship Inn, The Orient, and The Paragon Hotel in Sydney’s Circular Quay, as well as hotels in suburban Miranda, in the city’s Chinatown and one in Melbourne.

The Ryan family was attracted to the Royal Oak because of its position in Double Bay where it once owned the iconic Golden Sheaf hotel fronting New South Head Road.

“The Royal Oak is a community pub. It’s like a big country pub in the city. I assume that was part of the attraction,” said HTL Property managing director Andrew Jolliffe who sold the pub along with HTL director, Dan Dragicevich.

The transaction comes at an active point in Double Bay’s evolution, with a pipeline of high-end residential, accommodation, hotel and mixed-use investment set to reshape the enclave, and further strengthen its position as one of Sydney’s premier lifestyle destinations.

Mr Dragicevich said the scale of capital recently invested in Double Bay was impressive, adding that the hotel is famous nationwide and occupies a strategic position in the suburb’s epicentre.

“Double Bay is going through a generational period of investment, and the quality and scale of capital being deployed across the precinct is significant,” Mr Dragicevich said.

“The dynamic combination of population growth, premium commercial and residential development; and substantial investment into the surrounding retail and hospitality precinct provides for compelling long-term revenue growth and value trajectory,” he said.

The buyer Patrick Ryan acknowledged the hotel’s prominence and history, adding that the Ryan family was delighted to have acquired such a well known and well patronised Sydney hotel.

Sydney hotel broker Andrew Jolliffe, who co-founded HTL Property, has just sold the Royal Oak in Double Bay.

“The family are particularly excited about being back in a Double Bay pub,” Mr Ryan said.

Vendor Ed Malouf said it was a “great result” that the hotel will be handed over to the Ryan family, who were well recognised, astute hotel operators in the pub industry.

Meanwhile, Mr Jolliffe said the transaction reflected a continued demand from sophisticated buyers for irreplaceable metropolitan hotel assets.

“Investors are increasingly looking to investment factors in addition to what is simply the existing earnings profile, and in doing so are considering the quality of the underlying real estate, as well as the rarity and availability of true trophy status, generational hospitality assets,” he said.

“The Ryan family has secured what is patently an iconic hotel, at an important chronological point in the continued evolution of Double Bay,” he said, adding that HTL has more hotel buyers than sellers at present.

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For the fraction of the cost of a typical Aussie home, a slice of private island paradise is up for grabs off Tasmania for as little as $520,000.

Little Dog Island is among a small few islands with freehold titles off Flinders Island, and is part of the Furneaux Group of islands in Eastern Bass Strait.

Spanning 17.2ha of undulating land, Little Dog has two beaches and is accessible via a short boat ride from Lady Barron.

“There’s not many places you could travel for half an hour and be on a remote island where you’re not seeing anybody else – it’s a pretty exceptional experience,” a representative of the owner, who wished to remain anonymous, told realcommercial.com.au

“It’s rare to get freehold beachfront land anywhere in Australia for under $1 million dollars.

“This would be ideal for people who are in a position where they want a second home and a getaway, but they want something a bit unusual, to be away from the crowds and have a really unique experience.”

The island is currently equipped for camping with two cedar huts, a deck and a composting toilet.

Other than a couple of cabins, the island is pretty much a blank slate. Picture: realestate.com.au

Future new owners could build their own private island beachfront holiday home, subject to planning approvals, or make use of the existing campsite facilities.

The remaining ownership of Little Dog Island includes two additional freehold titles and Crown Land.

Despite its remoteness, access to the island is quite straightforward, according to the representative

“You fly in from Melbourne or Launceston, with Sharp Airlines onto Flinders Island – and that’s a half hour flight from Launceston, or an hour flight from Melbourne – and then you can park your car at the airport for free,” they said.

Two private beaches await. Picture: realestate.com.au

“People could leave a car with a tinny on the back of a trailer, and you just fly in, go into the town, fill up with your supplies, and then drop your boat in the water and go out to your island.

“The benefit is you’re having an incredible experience in really wild nature.”

The vendor is also selling a 6.5ha freehold title on nearby Little Green Island, as an Expression of Interest campaign, with a reverse price of $330,000 as per its council valuation.

From eco-resorts to beachfront hideaways, here are some other private islands currently seeking new owners across Australia.

Luxury tourism freehold offering

A private South Australian island that has been developed into a premium luxury tourism destination has hit the market via an Expressions of Interest with a $30 million price guide.

Rumi on Louth, a luxury eco-resort is located on one of Australia’s few freehold private islands, and has approval in place for a significant accommodation expansion and associated tourism infrastructure.

Rumi on Louth in SA comes ready to go and with a freehold title to boot. Picture: realcommercial.com.au

Louth Island spans 135.16 ha and is set within Spencer Gulf, approximately 3km from the South Australian mainland at Louth Bay.

The island is the vision of entrepreneur and Uniti Group co-founder Che Metcalfe and his wife Natasha Metcalfe, who bought the property in 2021.

Since then, it has been transformed into a boutique luxury retreat comprising six premium guest suites, which has set the island amongst South Australia’s leading luxury tourism destinations.

Savills ANZ hotel capital markets managing director Nicholas Lower said competition among ultra-high-net-worth individuals for trophy lifestyle and hospitality assets has been intensifying, particularly for private islands in Australia.

The eco resort greets visitors with sapphire blue waters of the Spencer Gulf. Picture: realcommercial.com.au

“Most assets are structured as leasehold, making Louth Island distinct in offering freehold title at scale and proximity to the mainland,” Mr Lower said.

“With approvals already secured, the incoming purchaser will have a clear pathway to scale the asset and unlock long-term value,” Mr Lower said.

Rumi on Louth has become renowned for its acclaimed two-hatted Samphire Restaurant, which operates as a standalone destination dining experience.

The resort is supported by substantial off-grid infrastructure, including a 500kW solar power system, a desalination plant, as well as advanced waste management facilities and sewage treatment systems.

Rumi on Louth is one of the most compelling luxury destination resorts on the market right now. Picture: realcommercial.com.au

Queensland island with homestead

In Queensland, $12 million plus would secure a buyer Quail Island with a rolling long term lease.

Located about 2.5kms off Stanage Bay halfway between Rockhampton and Mackay, Quail Island boasts an 800m private beachfront and includes a renovated two-storey homestead, a newly built two bedroom steel framed manager’s residence, a machinery shed and two sets of cattle yards.

Quail Island, off the coast of central Queensland, is on the market for $12 million-plus. Picture: realestate.com.au

It also has an 800m earth/grass airstrip, pastures, dams, a freshwater well, as well as an untouched native forest.

Offers to purchase Quail Island close 22 October.

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Australian charcoal chicken giant El Jannah is preparing to open its first store in Adelaide.

The cult favourite, which first opened in Western Sydney almost 30 years ago, revealed the news on its social media, with fans quick to express their excitement.

“South Australia, get ready … we’re bringing the legendary Lebanese charcoal chicken you’ve been missing,” the post read.

It encouraged followers to guess the store’s location with a photo and three letters in a seven-letter word clearly indicating it would at Glenelg.

Fans of the brand praised the move, with many thanking it and saying they had been eagerly waiting for a local eatery for years.

El Jannah is opening its first store in South Australia. Picture: Instagram.

“Chefs kiss. Welcome to SA!,” one person said.

“Cannot wait for this,” said another.

Others struggled to contain their excitement.

“Aaaahhhhh omg stop it no way,” replied one.

“What the f**k my prayers have been answered,” said another.

An open date and exact location of the new store remains unknown.

El Jannah has been contacted for comment.

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News that the brand was plotting a move into SA and Queensland within the next year was floated in May.

It comes as the brand also revealed in May it would open 14 new restaurants across Victoria over the next 12 months as part of a massive southern expansion.

El Jannah chief executive Brett Houldin said at the time the brand was just getting started, with a pipeline that looked set to shake up the local fast-casual dining scene.

El Jannah chief executive Brett Houldin at their new Randwick store. Picture: Jonathan Ng.

“We’ve been really fortunate in Melbourne with the restaurants that we’ve opened so far,” Mr Houldin said at the time.

“We really want to make sure that we have a good and even coverage across Melbourne and then into Victoria.”

Mr Houldin shot down reports El Jannah was sold to US investment firm General Atlantic for close to $1 billion and clarified that the deal was a partnership rather than a corporate buyout.

El Jannah currently has 64 stores across NSW, Victoria and the ACT, which it planned to expand to between 150 and 200 restaurants over the next five years.

– with Belinda Palmada

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A heritage-listed igloo-style warehouse that forms part of the former RAAF Stores depot, a complex of 1940s military storage buildings in regional New South Wales, has hit the market with a $3.5 million to $4 million price guide.

Established during World War II as a major logistics and supply hub for the Royal Australian Air Force, 26 High Street, Dubbo is a 6850sqm warehouse that belongs to the former RAAF No. 7 Stores Depot.

The depot played a significant role in the war effort, serving as a storage and distribution centre for military supplies across the region, and its distinctive parabolic-arch “igloo” buildings constructed on the site are a hallmark of wartime military architecture.

Raine & Horne Commercial Dubbo director Joe Burgun said the listing was a genuinely rare offering.

“The former RAAF Stores Depot igloos are iconic wartime structures, and the opportunity to acquire one as a standalone allotment does not come along often,” he said.

“There are very few comparable buildings in regional NSW, and even fewer that are available for private purchase.”

The property is being sold by Maas Group Properties, which has been undertaking the progressive development and subdivision of the wider former RAAF Stores Depot estate.

The large-span timber-framed parabolic arch structure with corrugated metal cladding and concrete floor has a ridge height of about 15m and is currently utilised by the vendor for industrial storage but is being offered with vacant possession.

An example of an ‘Igloo’ in Woomera, SA, circa 1950. Picture: National Archives of Australia

Steeped in history

The former RAAF Stores Depot comprised of 30 buildings, including five huge Igloo stores buildings, three Bellman hangars, a Rabaul hangar, a Sidney Williams Hut and a large semi-underground PBX bunker, as well as a road system, railway spur lines and remnant state forest.

According to the NSW State Heritage Inventory, the complex of substantial military structures in their original configuration and landscaping is the only extant, relatively intact example of its kind in Australia.

“It is unusual and probably unique in Australia to find five different types of 1940s prefabricated buildings remaining on the one site,” it states.

“The Igloo stores, still in pristine condition, were adapted from an American design but using Australian hardwood and corrugated iron, and are five of the only six examples of this building type left standing in Australia.”

The RAAF used the Igloos up until 1992. Picture: realcommercial.com.au

The inventory also notes the igloo buildings were “an unusual, functional and attractive form of industrial structure that is evocative of war time design and construction practices.”

“The buildings were carefully oriented to minimise shadowing in order to resemble hills from an aerial perspective,” it stated.

“On completion the profiles of the openings and gables were also modified by the use of galvanised iron sheeting cut to resemble tree shapes.”

At the end of World War II the Dubbo Stores Depot was the largest stores depot of its kind in Australia in both size and stock.

NSW’s west served an important role during aviation’s golden era. Picture: National Archives of Australia

Keen buyer interest

Mr Burgun said the property has attracted strong enquiry from a diverse range of buyers, including local and regional investors, developers, and owner-occupiers looking at adaptive re-use opportunities.

“Interest has been both local and from outside the region, which reflects the unique nature of the offering,” he said.

The building’s large-format industrial structure, scale, clear-span layout and heritage character have attracted interest from a diverse range of buyers.

“That includes investors, owner-occupiers looking at storage, warehousing, or other large-format uses, and parties exploring adaptive re-use concepts that take advantage of the igloo’s distinctive architecture.”

The site is zoned R1 General Residential under the Dubbo Regional Local Environmental Plan 2022, which reflects the broader residential master-planning of the former RAAF estate.

“However, the building has a long-established history of industrial storage and warehousing use,” Mr Burgun said.

“By way of precedent, the neighbouring igloo on High Street, which carries the same R1 zoning, was granted development approval for conversion to self-storage units and is now occupied by National Storage.”

Future plans for the wider site part of a $74.4 million proposal

Maas Group has lodged a $74.4 million State Significant Development application for a master-planned residential community on a 9.29ha site, within the wider former RAAF Stores Depot estate.

Ahead of the application’s assessment, submissions from the public are now being answered.

Maas Group is seeking to develop this landholding next to the Igloos, dubbed Cypress Park. Picture: Maas Group

The proposal includes 211 manufactured home sites delivered in two, three and four-bedroom configurations, in addition to a community centre featuring a function room, gym, library, games room, outdoor terraces and meeting room.

The development also proposes an outdoor pool, BBQ area, children’s playground, pickleball court, tennis court, bowling green, 54 visitor parking spaces, and several landscaped park areas for community use.

“The sale of 26 High Street (Igloo 3) is a separate offering and is not part of the SSD application site,” Mr Burgun said.

Expressions of Interest to buy the site close 30 September.

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Hopes for a real estate rebound are facing a “fresh” setback with house prices flat again in August and the Canadian Real Estate Association (CREA) warning that higher borrowing costs could weigh on the market.

According to CREA’s latest report, the national benchmark home price was $657,400 in August, unchanged from July and three months earlier. Prices were down three per cent year over year and 0.6 per cent from six months ago.

Home sales slipped 0.7 per cent from July on a seasonally adjusted basis and were 6.9 per cent below 2025. New listings, meanwhile, rose 3.3 per cent month over month, reversing three consecutive monthly declines over the summer.

CREA said the increase in supply, alongside the small decline in sales, pushed the national sales-to-new-listings ratio down to 49.1 per cent from 51.1 per cent in July. There were 4.8 months of inventory nationally, unchanged for a fourth consecutive month and just below the long-term average of five months.

The association found sales activity has been largely unchanged since May, while prices have moved little since spring –– the longest stretch of price stability since 2024.

Shaun Cathcart, CREA’s Senior Economist, said the economic environment has become more challenging, pointing to higher bond yields that have already pushed fixed mortgage rates up and renewed expectations of a possible Bank of Canada rate hike.

“This fresh round of incoming headwinds is expected to dampen the prospects for further housing market momentum heading into 2027,” Cathcart said.

• Garry Marr: Are we building too many apartments now?
• Why America’s bond problem could become your mortgage problem

• Email: shcampbell@postmedia.com

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With popular online marketplace Temu offering cheap alternatives to absolutely everything it was only a matter of time before ‘real life’ versions began popping up across Australia to harness the huge interest in reducing household costs.

Australia has already seen a version of ‘real life’ Temu opening in Melbourne and Brisbane through popular Asian discount chain Pandamart, but what about food?

Well, it would seem Australia is about to get a hyper-cheap ‘Temu’ restaurant as well when a popular Japanese brand opens its first eatery in the country.

Japanese restaurant chain Saizeriya is coming to Melbourne in November and Aussie fans are hoping so to do the $3.30 pizzas, $4 pastas and $1 wines that have made it a mainstay in Japan.

It offers extremely cheap meal options to diners. Picture: Supplied

Saizeriya produces Japanese-Italian-style dishes across more than 900 sites in Japan. The chain achieves its cheap price point because meals are pre-cooked akin to the meals someone might be served in a plane.

Aussie shoppers at Highpoint Shopping Centre in Melbourne were alerted to the opening when Saizeriya banners spruiking the November open date were erected.

“A super popular cheap Italian eats in Japan, are we ready for $1 a glass of red wine,” one Aussie commented on social media.

Saizeriya’s Aussie opening makes sense because many menu items served in its 900 restaurants are already prepared in Victoria using Australian ingredients before being shipped to Japan.

The popular chain has more than 900 restaurants in Japan. Picture: Supplied

The November opening will simply serve as a restaurant opening that expands a commercial footprint in Australia that Saizeriya has maintained since 2001.

While many Aussies were excited to hear of Saizeriya’s Melbourne opening, many were concerned the cheap meals in Japan wouldn’t transfer to similar pricing in the local market.

“Excited for this. Hope they retain the affordable prices,” one person said on social media.

“The best thing about Saizeriya is the price and I bet it’s not going to be the same in Melbourne. It will be three to five times what it is in Japan,” said another.

“Most people in Japan only like Saizeriya because it’s cheap. If it’s going to be expensive, then what’s the point,” another commented.

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