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;

Joel Robinson

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

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Banking

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Credit union CUA announced a nine percent rise in its group net profit after tax (NPAT) in its first-half ended December 31, driven by strong loan growth and net interest income.
The CUA Group – which includes its banking operations (the ADI) and CUA subsidiaries and insurance businesses – also recorded asset growth of more than $500 million over the six months to 31 December 2015, taking consolidated assets to a record $12.5 billion, it said. 
Loans grew 4.2 percent to $10.83 billion, with $1.5 billion in new loans. 
NPAT was $28.05 million, while net interest income was up 5.7 percent or $6.17 million for the period to $113.75 million, boosted by strong lending in FY15, new products and interest rate changes, it said. CUA said it was on track to improve its net interest margin during the second half. 
CUA’s banking business (or ADI) posted a first-half NPAT of $30.85 million, up 12.5 percent on the previous first-half result of $27.43 million.
“This is another solid financial result for CUA which reflects our focus this year on sustainable growth, investing in our future capability and building capital to enable us to lend to more customers,” CUA chief executive officer Rob Goudswaard said. 
Since launching CUA’s updated mobile banking app in October, online banking has attracted 9,500 new mobile users and the number of new registrations each month is up by 46 percent. CUA recently launched a new website.
Goudswaard said he was pleased with the continued high quality and low risk of CUA’s lending growth. Home loans with a Loan to Valuation Ratio (LVR) above 90 per cent account for less than 8 percent of CUA’s total home loan portfolio. Impairment charges were down 9.6 percent on the same period last year and CUA’s loan arrears are around half the rate being reported at industry level. 
“We also launched two new home loan products in July 2015, giving borrowers a greater choice of rates and features, depending on the size of their deposit and whether the customer is buying the property to live in or as an investment. In addition, we implemented different rates for investors across variable and fixed home loans, in response to the regulators’ focus on managing growth in investor lending.
Last year, Goudswaard had said new loan growth would not be as strong in 2016 as it needed to peg back growth in its investor loans, which is at 16 percent, were above the banking regulator's 10 percent growth cap. 
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prateek24-ezbwHMbNAk

CUA first-half profit up nine percent on net interest margin, loan growth 

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GUEST OBSERVER
The Westpac/Melbourne Institute index of consumer confidence fell by 2.2 per cent in March to 99.1. A reading of 100 is the dividing line separating optimism from pessimism.
Wisest place for savings: “Banks” was the wisest place to put new savings according to the survey.
Overall 27.4 per cent believe the wisest place for savings was in “banks”, up 1.2 percentage points over the quarter.
Next highest was “Pay debt” (24.4 per cent – 4-year high, up 6.6 percentage points), which overtook “real estate” (14.7 per cent, down 8.7pp). A total of 7 per cent of respondents were unsure of what to do with additional savings – the highest reading in records going back over 20 years.
Home loans: The number of loans (commitments) for people who are buying or building homes to live in (owner-occupiers) fell from 7-year highs, down by 3.9 per cent in January. Refinancing of home loans fell from record highs, down by 4.4 per cent in January.
The housing finance data has implications for banks, building material suppliers and retailers. The consumer confidence data is important for retailers and consumer-facing businesses.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.20.14%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.20.14%20AM.png" alt="">
What does it all mean?
The monthly consumer confidence data is now merely useful as a check against the timelier weekly survey. The ANZ-Roy Morgan survey has the same number of survey respondents as the monthly series, has been running over the same number of years and covers the same questions, but is conducted each week. And what is clear from both surveys is that confidence levels seemingly consolidated over the month.
According to the Westpac/Melbourne Institute survey, consumer sentiment eased marginally in the latest result. The Roy Morgan weekly reading indicated similar volatility over the month with consumer sentiment lifting in the past week. The improvement in the global outlook, stronger domestic economic data and the recent strength in the Australian dollar should support confidence levels over the medium-term.
Where is the wisest place to put new savings?
According to the latest survey it’s in the bank, which strengthened its ascendancy in the latest quarter. Interestingly the major loser in the quarter was “real estate”. This was surpassed by “pay debt” as the second best option for additional savings. It was the first time in 3ó years that “paying down debt had surpassed real estate. In fact only 14.7 per cent of respondents believed real estate was the best option for additional savings – the weakest reading in over four years. It is quite a turnaround for “real estate” given that just six months ago it was considered the most attractive savings option with the highest reading in 12 years.
No doubt the run up in house prices, tighter home lending criteria by the banking sector and recent consolidation in the housing sector are prompting more households to focus on alternative asset classes to property. Interestingly the low interest rates on offer and volatility in stock markets has seen a substantial lift in the number of respondents that do not know what to do with additional savings. A total of 7 per cent of respondents claimed not to know what to do with additional savings – the highest reading in records going back over 20 years.
Despite the recent pullback the home loan market remains in good shape. Especially when you consider that loans to home owners eased from a 7-year high. Where the weakness is more paramount is in investor loans which have fallen substantially over the past six months. The value of investor loans is now down almost 15 per cent on a year ago. The result is a positive for the housing sector given over-lending to the sector last year. More prudent lending policies should ensure that the housing sector continues to remain resilient, contrary to the discussion of a substantial downturn.
The Reserve Bank is comfortably on the interest rate sidelines. Refinancing may have eased in the past month from record highs but the low interest environment is likely to prompt more home owners to shop around for the best home loan rates in coming months.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.21.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.21.18%20AM.png" alt="">
What do the figures show?
Housing finance - number
The number of new owner-occupier housing loans (commitments) fell by 3.9 per cent in January after rising by 2.7 per cent in December. Excluding the refinancing of dwellings, the number of loans was down by 3.6 per cent.
Loans by owner-occupiers for the construction of homes  down by 2.8 per cent in January; loans to buy newlyerected dwellings  fell by 3 per cent; and loans for the purchase of established dwellings  (excluding refinancing) fell by 3.8 per cent. The number of refinancing transactions  fell by 4.4 per cent.
Housing finance - value
The value of new housing commitments (owner occupier and investment) fell by 3.4 per cent in January after a 0.1 per cent fall in December. Owner-occupier loans fell by 4.3 per cent while investment loans fell by 1.6 per cent.
The value of loans by owner-occupiers and investors to build new homes  fell by 0.9 per cent in January after falling by 1.2 per cent in December. The value of loans to build new homes stood at $2.77 billion, weakening further from the record high of $2.93 billion in December 2014.
Consumer sentiment:
The Westpac/Melbourne Institute index of consumer confidence fell by 2.2 per cent in March to 99.1 after lifting by 3.9 per cent in February. The confidence index is down 0.4 per cent on a year ago. The current conditions index fell by 7.3 per cent while the expectations index rose by 1.7 per cent.
Three of the five components of the index fell in March:
The estimate of family finances compared with a year ago was down  by 8.2 per cent;
The estimate of family finances over the next year was up  by 0.2 per cent;
Economic conditions over the next 12 months was up  by 8.2 per cent;
Economic conditions over the next 5 years was down by 2.5 per cent;
 The measure on whether it was a good time to buy a major household item was down by 6.6 per cent.
Gender &amp; demographics: Men (index reading of 104.6, up 2.3 per cent) were more optimistic than Women (94.4, down 6 per cent). The sentiment index for young people fell by 17.1 per cent to 99.9 in March. Across the other demographics: 25-44 years (index 103.1, up by 0.4 per cent); 45 years plus (index 96.3, down 0.7 per cent).
Housing outlook: A good time to buy a dwelling? – Index up 5.5 per cent in the quarter and although still down 13.1 per cent on the year.
Wisest place for savings: “Banks” was the wisest place to put new savings according to the survey. Overall 27.4 per cent believe the wisest place for savings was in “banks”, up 1.2 percentage points over the quarter. Next highest was “pay debt” (24.4 per cent, up 6.6pp), followed by “real estate” (14.7 per cent, down 8.7pp), “shares” (7.6 per cent, down 2.3pp), and “dont know” (7 per cent, up 4.1pp) “superannuation” (4.9 per cent, up 0.4pp).
State sentiment levels: NSW (up 1.6 per cent), Victoria (down 5.3 per cent), Queensland (down 2.6 per cent), Western Australia (up 1.2 per cent) and South Australia (down 10.6 per cent).
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.22.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.22.27%20AM.png" alt="">
What is the importance of the economic data?
Housing Finance data is produced monthly by the Bureau of Statistics and shows commitments by lenders, such as banks, to provide finance for housing purposes. The lending figures relate to those looking to buy or build homes to live in as well as those seeking to buy or build homes for investment purposes. Generally people get their finance organised first, so the figures are regarded as a leading indicator on the housing market.
Westpac and the Melbourne Institute release the Index of Consumer Sentiment each month. According to Melbourne Institute: “The survey of consumer sentiment was first undertaken in 1973 and was conducted on a quarterly basis until 1976, a six-weekly basis from 1976 to 1986, and has been conducted monthly ever since.”
Confident consumers may be more inclined to spend, especially on major items.
What are the implications for interest rates and investors?
From a broader sense, confidence levels are OK without being great. Looking forward, a period of calm on share markets and the recent strength in the Australian dollar could be key factors supporting household confidence.
For Aussie consumers, a stronger Aussie dollar means increased purchases on the internet and trips abroad, so the recent strength in the Aussie dollar will support confidence.
The Reserve Bank will be comforted by the more stable conditions in the investor housing market.
CommSec expects no change to interest rate settings for the foreseeable future.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.23.38%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%2010.23.38%20AM.png" alt="" width="1525" height="500">
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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jchancellor-FAypfDUnLy

“Pay debt” at a four year high: Commsec's Savanth Sebastian

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Leading mutual lender, Teachers Mutual Bank intends to merge with the NSW-based Fire Brigades Employees’ Credit Union. 
The boards of Fire Brigades Employees Credit Union (FBECU) and Teachers Mutual Bank have signed a memorandum of understanding.
FBECU has over 7,400 members and more than $215 million in assets. Teachers Mutual Bank was established in 1966, now with over 160,000 members and $4.5 billion in assets.
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Teachers Mutual Bank to merge with Fire Brigades Employees' Credit Union

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<div class="cq-article-content-paras section">
<div class="cq-article-content-paras section">
The exposure of the big four banks to commercial property lending has further increased. 
Australia's four major banks contributed about 70 percent of the latest increased exposure to commercial property.
Analysis from CLSA, NAB has the highest percentage of gross loans to commercial property at 10.3 percent or about $60.2 billion.
Westpac is second at 8.2 percent, through less than a third of the 35 percent it had during the tumultuous early 1990s.
CBA sits at 7.2 percent and ANZ had the lowest exposure to commercial property.
Australia's banks saw their biggest quarterly increase in exposure to office towers during the December quarter, rising almost $3 billion to $74.56 billion, the largest quarterly change since the Australian Prudential Regulation Authority began the 2008 data series.
Australian banks increased their commercial property exposures by $5.46 billion in the December quarter to $244 billion.
Exposures in office accommodation make up 30 percent of all commercial property while retail property made up 23 percent.
There were increased exposures in every sector of commercial property except tourism assets, the Australian Financial Review noted.
Exposures in commercial residential and land developments rose by a collective $1.8 billion in the December quarter.
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Commercial Property 101: Big four banks ratchet up commercial property exposure

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Bain &amp; Company's Boston-based head of global banking Gerard du Toit forecasts the accelerating adoption of mobile banking services will result in accelerated bank branch office closures.
 
He suggests Australia's big four banks will come under pressure to close up to 30% of branches over the next three to five years.
 
"Visits to Australian bank branches were down almost 10% in the September quarter compared to the same period two years earlier, but the percentage of transactions done via a teller was still twice as high as in the most digitally advanced markets," Bain &amp; Company's Boston-based head of global banking Gerard du Toit told the Australian Financial Review.
 
"Everything suggests this market has more branches than it is going to need five years from now.
 
"It is hard to say how many closures there will be but global trends indicate a possible reduction of 10% to 30%". 
 
Bain &amp; Co's latest annual report on global trends found that the adoption of mobile banking services accelerated rapidly in the past year.
 
But it warns banks to get the technology right.
 
Mr du Toit said Australian banks should learn from the Netherland's ABN Amro which halved its branches over the past three years without losing market share having spent five years ago with branch staff focused on training customers, especially babyboomers up on how to use self-service options.
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Bank landlords face 30% branch office closure

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Smaller, online and non-bank lenders like ING DIRECT and Queenslanders Credit Union were the winners of Mozo’s People’s Choice Banking Awards, based on reviews from almost 35,000 customers over the past 12 months.
Overall, satisfaction with banks fell slightly to 7.82 in 2015 from 7.85 last year. 
ING DIRECT won Best Bank for the sixth year in a row, Greater Building Society took home its third award for Best Building Society and NAB held its mantle for Best Big 4 for the fifth year running.
“Each year, Mozo recognises the banks we love and trust, giving us a report card of just how we feel about our bank,” said Mozo director Kirsty Lamont.
The awards, in their sixth year, invite Australians to have their say on their banking experience. Customers rate their banking provider on overall satisfaction, price, features, customer service, convenience and trust. Mozo then aggregates these scores to determine the winners. This year more than 170 providers were rated. 
For the favourite banking products, transaction and savings accounts top the charts (8.19 and 8.11), while high interest charging credit cards and personal loans were the least loved (7.10 and 7.19).
“Interestingly, a family’s biggest debt burden, the home loan, had people feeling relatively happy (scoring 7.42) thanks to a low interest rate environment,” said Lamont.
Females aged 18-24 and earning less than $35,000 a year are the happiest with their bank (8.35), while those aged 45-54 and those earning over $180k gave their bank the lowest scores (7.5 and 7.12).
“Interestingly, we’re happiest at the start of our banking life-cycle and over time we become less satisfied the older we get and the more money we have,” said Lamont.
Among the states, Queenslanders were the happiest state, rating their bank an average 7.87 out of 10, followed by South Australia (7.80), Tassie (7.75) and NSW (7.71).
The least happy with their banks were Victoria (7.64), the ACT (7.62), and NT (7.58). 
Mozo People’s Choice Banking Awards overall winners
<table style="width: 424px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="161">
Category
</td>
<td valign="top" width="198">
Winner
</td>
<td valign="top" width="64">
Score
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Bank
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.05
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Big 4 Bank
</td>
<td valign="top" width="198">
NAB
</td>
<td valign="top" width="64">
7.96
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Credit Union
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
8.99
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Building Society
</td>
<td valign="top" width="198">
Greater Building Society
</td>
<td valign="top" width="64">
8.72
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Mutual Bank
</td>
<td valign="top" width="198">
Hume Bank
</td>
<td valign="top" width="64">
9.30
</td>
</tr>
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Mozo People’s Choice Banking Awards product category winners
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<td valign="top" width="161">
Category
</td>
<td valign="top" width="198">
Winner
</td>
<td valign="top" width="64">
Score
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Savings Accounts
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.29
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Bank Accounts
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.24
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Home Loans
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
9.05
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Credit Cards
</td>
<td valign="top" width="198">
Bendigo Bank
</td>
<td valign="top" width="64">
8.44
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Personal Loans
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
8.85
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Term Deposits
</td>
<td valign="top" width="198">
Bendigo Bank
</td>
<td valign="top" width="64">
7.89
</td>
</tr>
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j.ballantyne1990-6AQqhLzZaK

ING DIRECT tops Mozo's banking awards for sixth year

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Heritage Bank has appointed senior banking executive Peter Lock to take over as the chief executive officer from the retiring John Minz. 
Chairman Kerry Betros announced today that Mr Lock would take up the new role on Monday, 23 November. 
Mr Lock has more than 30 years’ experience in the financial services sector, including previously the chief operating officer for the Bank of Melbourne. 
From November 2013, he was managing director of Parkside Partners, his own corporate advisory firm based in Melbourne. 
The outgoing CEO John Minz announced his intention to retire, after 22 years at Heritage, including 12 as CEO.  
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Peter Lock to succeed John Minz as Heritage Bank CEO

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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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Australian banks are believed to have followed the same path of the global banking giants leading to the Global Financial Crisis (GFC) of 2008. In order to avoid borrowers from losing their homes, the Banking and Finance Consumer's Support Association (BFCSA) urges a Royal Commission to be put in place.
"Our members have uncovered fraud, forgery and other criminal behaviour by bankers here in Australia.  
"BFCSA have found and reported the manipulation of valuations (in every case), Loan to Valuation ratios hyped up to 140% creating toxic lending activity by 17 members of an easily identifiable banking cartel. 
"Bankers deliberately approved large quantities of unverified, unaffordable mortgage loans to low income families and pensioners. Bankers ignored any known risks and failed to observe the fact that despite owning a home and debt free, the intended victim will lose everything. 
"Our nation’s elite of the banking sector suggest to regulators and parliament: 'most loans settle within 5 years'. These are 'intended 30 year interest-only loans. Customers believe they have 30 years where this system of buffer loans will work according to banker advice and strategies. The loans do not amicably 'settle'."
"People coming to BFCSA for help is proof enough of what is really taking place. Widespread bank bullying is an issue for another Inquiry." Denise Brailey, a criminologist specialising in white collar crime, wrote in the submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership, on behalf of BFCSA.
"The Banking and Finance Consumer Support Association is in fact the only known consumer group operating collectively and gathering data relating to mortgage lending and home ownership from a ‘grass roots’ perspective. Our members have evidence in their files (and ours) that show alarming patterns of bad bank lending practices. 
"BFCSA notes that 100% of all cases we have examined are infected with fraud. All loans uncovered are approved, despite the banks being cognisant of the true income as to centrelink payments etc. These loans were unaffordable from inception.  
"Only a cartel could engineer such a structure, strategy and policies in order to engage in unsafe practices from an economic point of view. Control fraud activities such as those warned against by Prof William K Black, cannot continue to be ignored as occurred in the USA and other nation states. 
"It is the banking cartel members in 2005 who boasted a $100 billion market in targeting 'ARIP’s'. Not only did this announcement expose an undesirable intention but rather is a key indicator that double the stated quota was reached. 
"We did not escape the GFC, but we did allow bankers to continue to sell unaffordable loans to vulnerable citizens. The borrowers were not buyers. They were hunted down in their homes. There is no integrity in the banking files we have uncovered. 
"A Royal Commissioner is desperately needed in Australia to ensure the 17 identifiable bankers are questioned with authority and compelled to answer tough but important questions. 
"We survey members from time to time and we can see alarming patterns emerge, along with key indicators of a crimogenic environment across all states and territories in Australia."
In the submission BFCSA also recommends:
<ul>
<li>Every customer must receive a Loan Application Form (“LAF”) copy at the point of signing. That a second copy of the LAF will also be sent to the customer after the approval. This should minimise the fraud and forgery. </li>
<li>Credit Card applications must also be copied and given to the customer. </li>
<li>Sub Prime loans must be taken off the market because they force up property prices and distort the market. </li>
<li>All commissions to bankers and banker staff be stopped immediately. That sellers are acting as agents of the Bank and this is made clear to the public. </li>
<li>That the practice of ramping up of property prices by misusing LVR’s ie 130% LVR lending, in the interest of the Australian housing market, be investigated by the AFP. </li>
<li>Lenders (as members of the Cartel) to be investigated regarding sub-prime lending as to interfering with Homeownership, to the detriment of existing home owners. </li>
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Royal commission urged for banking industry

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We have been advising our clients for some time that the banks have become harder to deal with, than this time last year. Since those comments we have introduced internal measures to help our buying clients AND the banks have put investor rates up. Ok, the banks are being prudent, aren’t they?
Yes, but hey, there is a bigger picture here that the banks and the government are not seeing or maybe are choosing to ignore.
Are banks being fair to locals?
Question:  Are our local banks involved in some form of inadvertent, bizarre reverse prejudice by pulling interest rate and other restrictive lending levers for locals.
As any local buyer will acknowledge, it is already very difficult to compete against the huge Asian inflow of money. Asian buyers have more financial options eg currency swapping, than the local Australian buyers do.
Are we seeing a repeat of the 1960s where the banks wanted to encourage new building, so they made it easy for locals to borrow to build new in Doncaster, while making it more difficult for locals to borrow and buy second hand in Albert Park? The Greek and Italian migrants who at the time had more money raising abilities than the locals, took full advantage of this when walking off the boat and bought en masse in Albert Park, Port Melbourne and Middle Park with minimal competition.
The Asian buying influx is a lot, lot bigger now than the Greek and Italian influx of those times.
Since the FIRB changes of 2009 which opened and never shut the floodgates to overseas investment, large amounts of land and huge numbers of established homes in Inner Melbourne have been and are continuing to be bought by overseas investors. This seems to be what the Australian governments of both political persuasions want – ok, that is the government’s call – that’s not the point of this article – that’s for another time.
Our policy at James is clear – we act for local and overseas clients without internal policy bias.
Our point is that the locals (your children and my children) need to be on as level a playing field as possible when it comes to being able to compete against buyers from Asia.
Otherwise the banks/governments maybe subjecting some of our clients, locals, your/my children etc to a form of bias which we find totally unacceptable and outside our values of Australian fair play.
The banks, for no doubt very good reasons in their mind, are making it harder for locals to buy – but they may not slow the surge, as they intend. All they may do, is make it a lot easier for overseas buyers to buy near schools, buy in good streets, buy the established homes; as fewer local buyers have the ability to compete against the more sophisticated money from China and other Asian countries.
We think this is seriously unfair on local Australians if it plays out as it looks like it may.
Local banks need to be helping local buyers, not making it harder – guys, it’s already bloody hard enough for local buyers.
When are people of influence going to stand up for our children and for local buyers – who want to live locally.
If the government and banks want the market to ease, go to the source of the creation – huge and unabated overseas demand.
Banking leaders please look at what you may be inadvertently doing if you carry on your latest policy directions.
This current market is not being driven by local interest rates – this current market is being driven by overseas demand and if you continue to weaken the local competition by restricting their ability to borrow (which no doubt is based on good intentions); all you may be doing is making it even easier for overseas buyers to buy, while making it harder for some of our clients, locals and our/your children to buy.
Is that fair? No, it is not fair.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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