Category: Banking and Finance

The project, located in the suburb of Woree, will deliver 490 purpose-built residences including 245 social housing apartments, 223 affordable homes, and 22 specialist disability accommodation (SDA) apartments, ensuring a comprehensive range of housing solutions for diverse community needs.

Supported by the Australian Government and the Queensland Government, it forms part of the State’s Homes for Queenslanders plan and contributes to the target of delivering one million new homes, including 53,500 social homes, by 2046. FCC Construction Australia and Modscape have commenced construction with completion expected in 2026.

ANZ will provide funding for the project alongside Housing Australia and the Northern Australia Infrastructure Facility (NAIF). Housing Australia will offer a grant through the National Housing Infrastructure Facility.

The precinct will also be supported by funding through the Housing Investment Fund and lending from ANZ, Housing Australia and the Northern Australia Infrastructure Facility (NAIF). NAIF will also provide a capital grant. Tetris Capital and Community Housing Limited (CHL) will continue their partnership to deliver and manage social and affordable homes across Australia.

Once completed, the precinct will feature energy-efficient one- and two-bedroom homes for people over 55 and those with disabilities. The precinct will offer independent living support in an inclusive environment with amenity such as landscaped gardens, picnic areas, BBQs, and playgrounds.

ANZ Group Executive, Institutional, Mark Whelan said: “At ANZ, we are committed to increasing the supply of social and affordable housing, with a target to fund and facilitate $10 billion of investment in more affordable, accessible and sustainable homes to buy or rent by 2030.”

“Affordable housing is an issue best addressed by partnerships between the public and private sectors. We are ambitious when it comes to finding innovative solutions and helping the market to adapt and grow. We’re helping to change the market by delivering more of the right housing, in the right locations and at the right price point.

“We are firmly committed to supporting more housing projects, especially in Queensland. The delivery of these 490 new social and affordable homes fulfills the first part of many of those commitments we have made as part of our acquisition of Suncorp Bank,” Mr Whelan said.

Ryan Slocombe, Principal, Tetris Capital said: “Our mission is to deliver projects that not only meet immediate needs but also create long-term value for communities across Australia. The Cairns project is a perfect example of how we turn visionary ideas into impactful realities and address critical social and infrastructure challenges effectively.

“We’re pleased to partner with ANZ to help deliver Queensland’s largest ever social and affordable housing development which is also Cairns’ largest apartment development and Australia’s largest modular construction housing project,” Mr Slocombe said.

“Consumer Confidence rose 1.8 points to an eight-week high, remaining just below the mid-July peak,” ANZ Economist, Madeline Dunk said.

“The increase was broad-based, with current financial conditions being the only subindex to decline.

“The future financial conditions subindex increased 3.1 points to a six-month high. Households were feeling more confident about the economic outlook.

“Momentum has diverged across the housing cohorts. Since late-August, the four-week moving average of confidence for households who own their home outright has lifted 1.7 points, whereas it fell 1.3 points for renters and 0.2 points for those 

paying off a mortgage.

“While renters remain more confident than those with a mortgage, the gap between the two groups is narrowing.”

“Consumer Confidence has plateaued, with the four-week moving average largely steady since early August,” ANZ Economist, Madeline Dunk said.

“Weekly confidence is currently 2.1 points below the July peak of 84.4 points, which marked a six-month high in the series. The Stage 3 tax cuts and cost-of-living relief do not appear to be progressively boosting households’ confidence.

“We are, however, seeing a sustained improvement in inflation expectations which were stable at a 32-month low of 4.6 per cent. Lower petrol prices may be supporting this shift.

“The result is likely be welcomed by the Reserve Bank of Australia, with Governor Michele Bullock noting last week that having well-anchored inflation expectations helps to stabilise the economy, support economic growth and create more jobs.”

The addition of Cashrewards builds on the growing list of Add-Ons already available in ANZ Plus, including Qantas Frequent Flyer, Visa ATM Finder, Money Map, Spending and Money In & Out.

Maile Carnegie, Group Executive Australia Retail said: “Add-Ons enable our customers to enhance and personalise their banking experience with a mix of smart money management tools from ANZ and third-party partners. 

“Integrating Cashrewards with ANZ Plus makes the cashback process simpler and more convenient for our customers, saving them time, and importantly, it can help customers save money on their everyday purchases.”

Cashrewards is Australia’s leading cashback program. In 2023, top Cashrewards earners received an average of $400 cashback.  ANZ customers have earned more than $50 million cashback through Cashrewards to date. 85 per cent of Cashrewards members surveyed believe the program helps them with their financial position.  

Anthony Seymour-Walsh, Cashrewards Chief Executive Officer said, “We’re proud of our partnership with ANZ and the new Cashrewards integration to the ANZ Plus Add-On experience.

“ANZ Plus customers can now earn cashback on everyday purchases like groceries, fuel, travel, marketplace, fashion, and view their Cashrewards available to withdraw balance from directly within the ANZ Plus app. We are excited to help more Australian households make their household budgets stretch further,” he said.

The Cashrewards Add-On is now available to all ANZ Plus customers.

ANZ Plus customers who join Cashrewards via the Add-On and make a qualifying shop can earn a $30 Welcome Bonus (T&Cs apply). Once customers have the Add-On, they will be able to shop and earn cashback on everyday purchases like groceries, fuel and travel. They can also view their Cashrewards available to withdraw balance alongside their day-to-day banking.

To learn more, visit Add-Ons (anz.com.au)

Over the next twelve months, ICAN will upskill community professionals nationally on how to use MoneyBusiness financial education content to better support their clients.

MoneyBusiness is an ANZ initiative, developed to build the money management skills and confidence of Indigenous Australians.

ANZ developed MoneyBusiness in partnership with the Australian Government in 2005, following research which showed that financial exclusion was a significant problem among Indigenous communities. The program is estimated to have reached more than 90,000 First Nations people in 215 communities.

ANZ Head of Social Impact and Community Janet Liu said: “We’re proud MoneyBusiness has again been recognised for its contribution to the financial wellbeing of so many Indigenous Australians.”

“Financial wellbeing is a critical part of maintaining strong, thriving communities. We’re looking forward to working with ICAN and Federal Government on this expansion support more Indigenous Australians build on their financial skills,” said Liu.

ICAN CEO Aaron Davis said: “ICAN is committed to supporting financial wellbeing organsations build their workforce capacity through our registered training organisation, ICAN Learn.”

“As an organisation that provides financial counselling and capability services in regional Australia, ICAN knows how important it is to create local employment pathways and how much programs like MoneyBusiness can assist in that journey.”

“ICAN’s focus of developing the Indigenous financial capability workforce nationally through targeted training initiatives aligns perfectly with the goals of the MoneyBusiness program.”

For more detail about the training, including eligibility and delivery location please contact ICAN Learn at moneybusiness@icanlearn.edu.au or via phone 03 5471 777.

About MoneyBusiness

MoneyBusiness brings together ANZ’s knowledge and experience in financial literacy and the Australian Government’s overview of service delivery. ANZ developed a comprehensive set of community workshop materials in consultation with local communities and Indigenous workers who ensured the information was culturally appropriate and relevant to the target audience.

The program is delivered by ANZ and its community partners, including ICAN and the Federal Government.

About ICAN

ICAN provides consumer education, advocacy, and financial counselling services to people across north and far north Queensland. In 2017 ICAN created, ICAN Learn, a registered training organisation to build vocational education pathways for its Team, Community and the national Financial Wellbeing Sector more broadly. Building the capacity of these three distinct groups is a crucial step for ICAN to:

• Develop career pathways within ICAN for First Nations peoples and financial counsellors servicing First Nations communities.
• Provide quality financial wellbeing services to First Nations communities and employment/economic development programs.
• Develop career pathways throughout the financial wellbeing sector, prioritising the professionalisation of the national financial capability workforce.

This regional expansion comes among a suite of new tools and features including offset accounts, insights to help customers own their home sooner and the ability for customers to apply to take cash out of their home equity for home improvements, vehicle purchases or other lifestyle expenses.

Maile Carnegie, Group Executive Australia Retail said: “As we continue to build on our ANZ Plus home lending offering, we’re able to provide customers with more personalisation and features to help them better understand their home loans and improve their financial wellbeing.

“Owning a home is one of the biggest financial commitments most people will make in their lifetime, and we believe the process of finding the right home loan should be as easy and convenient as possible. The expanded eligibility, along with the addition of new features, like Home Loan Insights, offset and our upgraded website which allows customers to get a valuation for their property before applying, enables more customers to interact with ANZ Plus.”

The new ANZ Plus Home Loan features include:

A new offset feature allows customers to use their eligible ANZ Plus everyday account balances to reduce the interest they pay on their ANZ Plus Home Loan. The offset can be turned off and on as needed. A monthly fee of $10 applies.

ANZ Plus home loan customers can now apply to access home equity for home improvement, a vehicle purchase or other lifestyle expenses. This feature builds on ANZ’s commitment to support financial wellbeing, making it easier for customers to access funds to improve their homes and lives.

A new Insights tab shows customers how far ahead on their home loan they are and presents three simple steps they can take to get further ahead – make a lump sum payment, increase auto-repayments and turn on offset. Customers are shown an estimate of how much time will be shaved off their final loan repayment date as they make these changes, helping them to own their home sooner.  

• Explore via the web

Potential customers can explore the ANZ Plus Home Loan offer via the website, see estimated repayments and get a valuation for their property, and if right for them, transition to the ANZ Plus app where their loan preferences will be saved and ready for them when they join ANZ Plus. 

Since launch, ANZ Plus has expanded its home lending eligibility by increasing the maximum loan value to $2 million, allowing Foreign Tax residents and permanent residents to apply and expanding locations to include eligible properties in five states and territories.

The end-to-end digital home lending process can be completed quickly and easily within the ANZ Plus mobile app including selfie verification before customers electronically sign their loan documents.

Built by ANZ, ANZ Plus continues to be one of the fastest growing digital banking platforms in Australia, with more than $15 billion in deposits and 800,000 customers, 41% of whom are new to ANZ.

For more information visit: https://www.anz.com.au/plus

About ANZ Plus: 

• ANZ Plus utilises modern technology, resulting in the delivery of not just a new app or new product offering, but a new retail banking platform for ANZ.
• ANZ Plus launched its first transact and save products to customers in 2022, with the initial home loan added late-2023

 

About ANZ Plus home lending:

• The ANZ Plus Home Loan Variable is digital-first, data-driven, highly automated and supported by ANZ Plus Coaches. With ANZ Plus home lending eligible customers who wish to refinance can:
  • Verify their identity in a few minutes via the app with no paper required.
  • See a valuation of their home, so they can apply with confidence knowing it’s the valuation used to assess their application.
  • Receive their loan documents – written in simple language – in seconds.
  • Access ANZ Plus Coaches who are on hand to help via chat, phone or secure in-app video call.

“Consumer Confidence has moved within a tight range over the past four weeks, with the series retaining most of the increases seen in late July and early August.” ANZ Economist, Madeline Dunk said.

“Households’ confidence in their future financial situation rose to a five-month high last week and is now back in ‘positive’ territory.”

“This is the only subindex currently sitting above 100 points. Inflation expectations also eased 0.2 percentage point to 4.6 per cent, its lowest reading since late 2021.”

“The shift in these indicators may be linked to last week’s monthly inflation data, which showed a fall in both headline and trimmed mean inflation. After accelerating earlier in 2024, inflation appears to be back on the path to target.”

ANZ Economist, Madeline Dunk said: “ANZ-Indeed Australian Job Ads declined in August for the seventh consecutive month to be down 15.3% so far in 2024. Yet employment has risen by 318k in 2024 (273k in full-time employment), and six-month average employment growth is running at its strongest pace since late 2022. Part of the decline in the series (which measures total job ads rather than new job ads) is likely due to workers finding jobs. Labour supply is pushing higher, with the participation rate hitting a record 67.1% in July. The female participation rate lifted to a new peak of 63.2%, while the male participation rate was the highest since January 2016 at 71.2%. The downward trend in Job Ads and the move upward in the unemployment rate suggests that labour supply and demand are moving towards balance.”

Indeed Senior Economist, Callam Pickering said: “In August, Job Ads continued to fall across most states, led by Western Australia, Victoria and Queensland, which more than offset gains across South Australia and Tasmania. The 22.9% decline in Job Ads over the past year has been concentrated in New South Wales and Victoria, with more modest falls elsewhere. Defying national trends, Job Ads jumped in August in key sectors, such as retail trade, education and food preparation. For retail trade, August marks the beginning of the Christmas hiring period, with opportunities set to rise sharply over the next few months.”

In 2023, ANZ customers spent a total of over $932 million, an increase of 4% year-on-year from 2022. Over $883 million was spent domestically in Australia.

ANZ data trends suggest customers may continue to spend millions of dollars on meals with their fathers, with $105 million spent on takeaway, restaurants and cafes over the Father’s Day weekend in 2023 – up 2% year-on-year. Entertainment saw a 10% surge in 2023, with a total of $48 million spent over the same weekend.

ANZ Deposits and Payments Lead, Australia Retail, Yiken Yang said: “Spending at wineries and bottle shops continues to be popular, with ANZ data revealing $45 million was spent on this category during the 2023 Father’s Day weekend.”

“One of the biggest year-on-year increases was in travel expenditure – $25 million – up 18% from 2022, underscoring the growing popularity of gifting experiences, such as accommodation or flight vouchers, as opposed to physical goods.”

“Interestingly, spending on welfare and charitable services leapt 33% year-on-year, to $5 million, possibly reflecting the tradition of gifting a donation on behalf of someone. Father’s Day also drove a 23% increase in spending on memberships, worth an additional $730,000 spent over Father’s Day weekend.”

“Marine services, supply and rentals saw another big year-on-year increase, up 41% in 2023, compared to the same period in 2022.”

ANZ customers in Victoria spent the most of any state, however those in the Northern Territory and South Australia spent more over the entirety of the weekend, compared to other weekends in September. This represents an additional $874,000 in the Northern Territory and $6.4m in South Australia.

ANZ customers continue to use unique phrases when sending money over the Father’s Day period. Some of the most popular transaction messages have included: cooldad, papa, lunch, love, present, love you dad, dads gift, dinner and happy father’s day.

STATE BY STATE COMPARISON – ANZ CUSTOMER CREDIT AND DEBIT CARD DATA

Victoria

• Victoria’s total Father’s Day spend last year was $244.4m, up from $235.1m in 2022.
• Victorian customers’ spending on Father’s Day in 2023 was the highest in Australia.

New South Wales

• In total, customers in NSW spent $229.4m on Father’s Day in 2023, an increase from $220.9m.
• Spending by NSW customers was the second highest in the country.

Queensland

• Queensland customers spent $170.2m over the Father’s Day period last year. The total Queensland spend on Father’s Day in 2022 was $163.6m.
• Queensland was the third-highest spending state, over the Father’s Day period in 2023, behind Victoria and NSW.

Western Australia

• Last year, customers in WA spent a total of $120.8m on Father’s Day, up from $114.3m in 2022.

South Australia

• South Australian customers increased their Father’s Day spending to $68.3m in 2023. Customers spent $63m on Father’s Day in the previous year.

Tasmania

• Tasmania’s total Father’s Day spend was $20.2m in 2023, an increase from $19.7m in 2022.

Northern Territory

• Customers in the NT spent a total of $8.8m in 2023, up from $8.6m on Father’s Day in 2022.

Australian Capital Territory

• In total, customers in the ACT spent $13.9 on Father’s Day in 2023, compared to $14.1m in 2022.
• ACT is the only state or territory to have spent less on Father’s Day in 2023 than in 2022, according to ANZ customer data.