<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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The property data and analytics company, CoreLogic, has recruited Lisa Claes to be its next managing director for Australia and New Zealand.
Ms Claes is currently ING Direct's executive director for customer delivery.
She will start in August, taking over from Graham Mirabito, who is set to become the US-based group's international chief executive.
<div>Graham Mirabito said Ms Claes had 20 years experience in the mortgage, financial services and insurance industries, which well fitted the CoreLogic business.</div>
<div> </div>
<div>"ING Direct has been a leader in analytics," he said. "Lisa will bring a lot of capability to improve efficiency, engagement, and the on-line experience," he told The Australian Financial Review.</div>
</div>
<div> </div>
<div>In his years at the helm since October 2005, the Australian staff has grown from 75 to around 700 and its name changed from RP Data to CoreLogic RP Data to now just CoreLogic.</div>
<div>
The local operation is now a fully owned subsidiary of the US-listed, $4.6 billion, CoreLogic Inc, with much of the international expansion into China and Japan driven from Australia.
</div>
<div>Mirabito told Fairfax Media much of his international focus would be on Europe.</div>
<div> </div>
<div>RP Data adopted the sole name of its parent company, CoreLogic late last year.</div>
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jchancellor-FAypfDUnLy

Lisa Claes to replace CoreLogic's Graham Mirabito

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<div>
The national shortage of housing in Australia is nearly 250,000 dwellings, lower than previously estimated, but still a long way from being in structural surplus, according to ANZ Research's latest Economic Insight.
The study forecasts that housing construction and underlying housing demand will see a modest unwinding of the current housing shortage in coming years. This easing will, however, challenge the short-term support to dwelling sales and price growth from the underlying supply-demand imbalance in some markets.
Underlying housing imbalances don’t tend to be important in explaining short-term changes in dwelling prices. A strong increase in the national underlying housing shortage, however, has provided fundamental support to dwelling prices over the past decade, it says.
Foreign investment in Australian housing has increased sharply in recent years, providing a boost to new housing construction. However, the net impact of foreign investment on the supply of housing, and the housing market balance, is difficult to quantify due to limited reliable information about the number of unoccupied foreign investor dwellings.
</div>
Housing construction booming; population growth slowing
Australian housing construction is booming but population growth has slowed, prompting speculation by some commentators that Australia’s housing market has, or will soon, have a surplus of housing. The market and media are flooded with views on the state of ‘balance’ in the Australian housing market. These views conclude that housing is either in surplus, balance or shortage depending on whether ‘the market’ refers to: the mortgage/sales market; annual population and housing construction flows; or long-term housing requirements and housing construction, in other words, what we estimate as the underlying housing market balance.
Analysis of demographics and housing construction shows that in the 20 years to 2005 Australia’s annual population growth fluctuated modestly around 218,000 people (1¼% y/y on average). Between 2006 and 2008, however, annual population growth increased sharply, to a peak of 460,000 people (2.2% y/y) in December 2008. This was largely because of very strong net overseas immigration. Over the past ten years, Australia’s population has increased, on average, by around 360,000 people per year (1.65% y/y).
Dwelling construction has struggled to keep up with Australia’s housing requirements (Figure 2). Only recently has housing construction broken away from a long-term cyclical reversion to annual housing completions of approximately 145,000 dwellings. This has reflected a surge in construction of high-rise apartments, particularly in Sydney, Melbourne and Brisbane.
<img src="/images/2016/03/23/Screen%20Shot%202016-03-23%20at%203.08.01%20PM.png" alt="" width="499" height="283">
Consequently, until recently almost a decade of underbuilding has driven a sharp run-up in Australia’s underlying housing shortage. Assuming that the housing market was in long-term cyclical balance – that is, the market wasn’t maintaining a long-term cyclical surplus for a 20-year period to 2005 – housing construction levels have only recently ‘caught up’ to annual housing construction requirements. That is, the surge in higher-density housing construction has driven housing construction levels to match annual underlying housing demand for the first time since 1995.
Based on our expectations of housing construction levels easing moderately from recent all-time highs in the coming years (from 220,000 dwelling starts in 2015 to 205,000 in 2016 and 198,000 in 2017) and slowing population growth (from 1.35% in 2015 to 1.30% in 2016), Australia’s underlying housing market balance should moderate in 2016 and 2017 (Figure 3).
<img src="/images/2016/03/23/Screen%20Shot%202016-03-23%20at%203.11.40%20PM.png" alt="" width="450" height="274">
 
What does the market balance mean for Australian House Prices?
An underlying shortage of housing has little explanatory power for short-term price growth, which is largely a reflection of: housing affordability (ie house prices compared to household income and mortgage rates); housing market sentiment; home buyer preferences; and housing market policy/regulation.
For example, the underlying shortage of housing in NSW continued to increase strongly through the recent periods of falling house prices in 2008-09 and 2011-12. However, an underlying housing market shortage (or existence of pent-up unsatisfied housing demand) does provide significant support to the long-term level of house prices, offsetting the downside risk to prices from short-term/cyclical factors (Figure 1). Looking ahead, markets with significant unsatisfied housing demand, particularly Sydney, have limited downside risks to prices absent unexpected shocks to household incomes.
That said, short-term/cyclical factors that drive house prices lower are likely to have more amplified and longer-term impacts in housing markets with weaker supply-demand balance fundamentals. That is, housing markets currently experiencing strong growth in new housing completions (ie inner-CBD Melbourne apartments, Western Sydney housing) and/or sharply weaker population growth (ie WA and Queensland mining regions) are likely to be more exposed to cyclical price falls than other markets.
In addition, house prices in markets that are considered more-or-less ‘in balance’, such as Adelaide, Hobart and Canberra, have much softer fundamental support and are more exposed to regional economic conditions.
What's changed: Why is the housing market shortage lower?
The Australian housing market has experienced some significant changes in recent years, including an increasing gap between home deposit and mortgage servicing affordability, stronger consumer preferences for higher-density dwellings and a strong appetite for housing as an investment asset.
How do these changes impact on our estimation of the housing market balance? The main assumptions that have been impacted by these changes are household formation rates and demolition rates – both of which have lowered our estimates of underlying demand for housing.
Household formation rates: to reflect subdued first home buyer activity and difficult home deposit affordability we have revised our historical and projected household formation rates lower (ie increasing the notional number of persons per household) 
Demolition rates: the issue of urban congestion, or concentrated population growth in the major capital cities, has increased housing demolition rates. This has been reflected by a strong increase in higher-density dwelling (apartment and townhouse) construction in inner-city locations in recent years. 
Foreign investors and Australia's housing market balance
Foreign investment in Australian housing has increased sharply in recent years, raising some concerns about the impact of foreign purchases on domestic housing market conditions. Most notably, these concerns have centred on the impact this has had on price growth. A lack of reliable and timely data1 on foreign investor purchases of
Australian housing makes it difficult to draw evidence-based conclusions on the net impact of recent activity on house prices, with most views based on anecdotal information.
However, assuming that the majority of foreign purchases are compliant with existing policy (ie. each purchase adds at least one new dwelling to the housing stock) it is fair to conclude that foreign investment has provided a boost to the supply of new housing and likely had little direct impact on underlying demand (depending on the motivation for the foreign investor purchase).
While the net impact of foreign investment is likely to provide limited direct support to demand for housing through household formation and population growth, it could add to underlying demand through a higher proportion of vacant or unoccupied dwellings. Similarly, there is little reliable data on this impact, with some data indicating a strong prevalence of ‘ghost towers’ and some apartment developers of the view that most foreign investors are tenanting apartment purchases for rental yield as well as capital security.
Consequently, we haven’t built any assumptions about the impact of growth in foreign investment to the proportion of vacant new dwelling completions. However, the 2016 ABS Census will be an important source of current information on the impact of foreign investment on underlying housing demand and Australia’s housing market balance.
Our overall view though is that foreign investment is likely to have eased underlying market balance pressure in the major capital cities.
 
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jonathanchancellor-7SQnKwU6yx

Is there still a housing shortage in Australia? ANZ Research says about 250,000 dwellings

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The ANZ today announced that Shayne Elliott will become its chief executive officer on 1 January 2016 succeeding Mike Smith.
Mr Elliott, 51, is currently ANZ’s chief financial officer, originally from New Zealand.
Mr Elliott has over 30 years’ experience in international banking including in Australia, New Zealand, Asia Pacific and the Middle East. He joined ANZ as CEO Institutional in June 2009.
Mr Smith will step down after eight years as chief executive officer and as a Director on 31 December 2015. 
ANZ Chairman David Gonski said Mr Smith had transformed ANZ into Australia’s only international bank with a focus on Asia Pacific.  
"He has transformed ANZ into one of Asia Pacific’s leading banks with operations in 34 countries, delivering strong outcomes for our customers and for our shareholders."
Mr Smith, who has an invaluable understanding of and connections in Asia, will be retained as a non-executive advisor to the Board, initially for one year. 
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Shayne Elliott to succeed Mike Smith at ANZ

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Further changes to banks' capital requirements could increase the cost for first time buyer customers.
ANZ deputy chief executive Graham Hodges says further changes could be required after a review by the international Basel Committee on Banking Supervision.
"Proposals currently under consideration by the international Basel committee could lead to further significant changes to bank capital requirements applying to housing," Mr Hodges told a federal parliamentary inquiry into home ownership last week.
"This could have the effect of increasing the cost of finance particularly for those customers borrowing at a higher loan-to-value ratios," Fairfax Media reported.
"Over time this will likely disadvantage those buyers namely some first home buyers with smaller housing deposits."
The Australian Prudential Regulation Authority's new capital requirements for the big four banks and also Macquarie Group will require them to hold billions of dollars in extra capital against their mortgage books from July 1 next year.
Last week's comments are the first made by the bank on the matter.
“The potential consequences of the Basel IV proposals need to be carefully considered,” ANZ advised in its submission to the Murray inquiry report, which recommended regulators increase capital requirements for the banks so they are unquestionably strong globally.   “In the residential mortgage market, for example, the proposals may encourage authorised deposit-taking institutions to implement much greater differential pricing between customer groups than currently occurs in the Australian market, to reflect the wider spectrum of capital requirements.   “This may include higher pricing to customers with higher loan to value ratios.”
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ANZ warns low deposit first time buyers face further borrowing costs from 2016

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The ANZ submission to the House of Representatives Inquiry into Home Ownership suggests that achieving balance between government and private sector "can assist with managing demand uncertainty and responding to changes in consumer needs". 
"State governments and local councils have been slow to release land in response to the surge in migration from 2004. Natural geographic constraints to expanding the city fringe complicate this process in cities such as Sydney. 
"Adding to this bottleneck, the process for converting rural land to new dwellings can take six or more years in some cities.
"For suburban and inner-urban redevelopments, planning approvals from State government and local council are frequently subject to lengthy delays and policy changes are commonplace. This makes developing inner city properties more expensive and drives apartment prices up."
In the financial institution's view, in order to achieve higher funding availability, lower funding costs and earlier funding of projects, consumers should carry more of the risk.
"At present, buyers in all States except Queensland can pay a 10% deposit for an off-the- plan purchase with the remaining 90% paid on practical completion. ANZ’s experience is that this deposit has proven to be an inadequate pre-estimate of the loss that a developer suffers if a buyer does not complete a contract. 
"When a buyer fails to complete the purchase, a seller is exposed to: 
<ul>
<li>  Loss on sale price if the market has fallen; </li>
<li>  Additional legal expenses associated with the resale; </li>
<li>  Holding costs (including interest on debt, greater levels of land tax and local council rates, and higher insurance premiums); </li>
<li>  Marketing and agent commissions; and </li>
<li>  Costs of enforcement against a defaulting buyer or in claiming a disputed deposit. </li>
</ul>
"Housing demand has been driven over the last decade by rapid population growth, largely resulting from immigration. The acceleration in population growth was most concentrated in Sydney and Melbourne and was not matched by increasing construction of new residential dwellings. Demand is also affected by general economic conditions, including interest rates and labor market conditions. 
"ANZ expects subdued economic conditions in coming years and a higher unemployment rate will impact consumer confidence and the financial capacity of households (ie household income growth), despite an extended period of low interest rates. 
"In recent years, investors have been increasingly attracted to residential property as an asset class due to solid long-term risk-adjusted returns (including low downside volatility), the low cost of borrowing, and solid underlying market fundamentals. Investor's lending now accounts for 50% of total housing finance, slightly higher than peak in 2003-04. 
"We estimate that ‘realised’ foreign investment added around AUD12-18 billion to dwelling investment in 2013-14, and contributed to the increased supply of housing available for rent. 
The top 40% income earners accounts for four-fifths of investor housing debt. The increase in years to save for a deposit contributes to the decline in home deposit affordability.
"An ageing population will depend less on income and more on financial wealth to support home ownership choices. Figure 1 shows the most recent data on households by dwelling type, from 2011. It reveals a strong bias towards detached housing, particularly amongst age groups over 35 years. Higher-density housing is more common among under 35s (37%) and over 65s (23%). 
<a href="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%205.19.16%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%205.19.16%20PM.png" alt="">
"ANZ supports the supervision and measures now in place to monitor risks to financial stability posed by housing.  
"In net terms and absent the policy changes and other recommendations made here, we expect increasing home prices, weak household income growth, stable interest rates and increasing underlying pressure on the existing housing stock will continue to reduce housing affordability across all measures in coming years."
 
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ANZ blames metro Sydney and Melbourne price rises on supply mismatch

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The Today show money correspondent Ross Greenwood advised the full 25% rate cut savings was worth $3.34 billion in potential stimulus – money back in the economy.
But not all banks are passing on the full cash rate cut.
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With some $1.33 trillion in home owner and investor home loans, <a href="https://www.9jumpin.com.au/show/today/videos/4207691939001/" target="_blank">Greenwood </a>calculated that on all banks passing the rate cut on in full.
However the Commonwealth Bank is only passing on part of Tuesday's cut in official rates to its home loan customers, but has interestingly also taken the step of raising some deposit interest rates.
The country's biggest bank has lowered its standard variable mortgage rates by 0.20 percentage points to 5.45%.
CBA's group executive for retail banking, Matt Comyn, said the bank had considered the needs of deposit customers as well as borrowers in its decision.
"Lifting the rates for our deposit customers at a time when the cash rate is decreasing recognises the importance of savings income, particularly for retirees and young people."
The CBA move comes after ANZ earlier said it would lower its standard variable home loan rate by 0.25 percentage points to 5.38%, effective Friday.
NAB has copied Commonwealth Bank's move to keep some of the Reserve Bank's 0.25 per cent cut to the cash rate. 
NAB will cut its standard variable rate to 5.43 per cent, with its lowest fixed rate at 4.49 per cent for one year and 4.59 per cent for five years. 
 
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Full rate cut was worth $3.34 billion in potential stimulus: Ross Greenwood

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The housing market, in at least Sydney, Melbourne and Darwin, has seen growth recently, and it's causing a knock-on effect, according to the ANZ Research team, with developer confidence now picking up.
However, they also said that it would be the mining states that record the most pronounced growth rate for gross state product in the coming years.
All non-mining states saw growth rates strengthen in the second half of 2013.
Cherelle Murphy, Dyslan Eades, Tony Morris and Zoe McHugh, from ANZ Research, recently provided a market analysis that pointed to five factors lifting the growth rates and outlooks in all states and territories.
THE FIVE FACTORS
<ol>
<li>Improved global economic conditions 
</li>
<li>Low interest rates 
</li>
<li>The lower Australian dollar 
</li>
<li>Better business confidence 
</li>
<li>Better consumer confidence</li>
</ol>
"The mining states, which are on the cusp of an export expansion, will continue to record the strongest growth rates over the coming years in our view. But the non-mining states are expected to improve most compared to the growth rates recorded over the past few years," they recorded.
Interestingly, they also noted that the convergence in growth rates between the states is as expected.
"The mining states are coming off very strong economic performances as the resources construction pipeline dries up, while the non-mining states are steadily firming."
MINING STATES
Queensland: Major LNG projects still under construction, recording high activity levels.
Western Australia: More advanced through resources contruction work, seeing a more rapid slowdown.
Northern Territory: The exception, seeing a boost from INPEX Ichthys LNG Project.
NON-MINING STATES
New South Wales: The best performer, with trend unemployment falling to 10 month low (5.5%) in March. Business conditions have picked up.
Victoria, Tasmania: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink. Business conditions have picked up.
South Australia: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink.
Australian Capital Territory: Sturdy, but "will shortly bear the brunt of the not yet wholly known Commonwealth fiscal tightening."
All states, they noted, saw a sharp pick-up in housing market activity "related in part to the expansionary setting of monetary policy," they noted.
<blockquote>
FIVE FACTORS LIFTING GROWTH RATES
IMPROVED GLOBAL ECONOMIC CONDITIONS
LOW INTEREST RATES
THE LOWER AUSTRALIAN DOLLAR
BETTER BUSINESS CONFIDENCE
BETTER CONSUMER CONFIDENCE
</blockquote>
"Prices have bounced off their lows and have risen especially sharply in Sydney, Melbourne, and Darwin. This has translated to an improvement in developer confidence, with residential building approvals rising strongly, implying dwelling investment is likely to contribute solidly to growth going forward," they said.
Among all the non-mining dominated states and territories, the non-mining business investment is not forecasted to see any notable improvement until next year.
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