Category: Economy

Source: ANZ statements

Consumer confidence increased 2.8pts, but the four-week moving average decreased 0.6pts.

Among the mainland states, confidence rose in NSW, Victoria, Queensland, and SA, while it fell slightly in WA.

‘Weekly inflation expectations’ rose 0.3ppt to 5.5%, while the four-week moving average increased from 5.3% to 5.4%.

‘Current financial conditions’ gained 6.5pts after a cumulative 11pts decline over the previous three weeks. ‘Future financial conditions’ rose 0.2pts.

‘Current economic conditions’ increased 1.9pts, while ‘future economic conditions’ softened 0.8pts.

The ‘time to buy a major household item’ subindex jumped 6pts to its highest since early February.

Source: ANZ statements

ANZ Economist, Madeline Dunk said: “ANZ-Indeed Australian Job Ads has declined 3.5% over the last two months, taking the series to its lowest level since January 2022. The number of Job Ads, however, is still elevated compared to historical levels. Slack is slowly creeping into the labour market. Hours worked have been falling, recent jobs growth has been driven by part-time employment, youth unemployment has been rising and the underemployment rate has been moving up. This, along with the modest unwinding in job ads numbers, suggests the unemployment rate will rise further.”

Indeed Senior Economist Callam Pickering said: “The imbalance between labour demand and supply is gradually easing. Job Ads are down 11.4% over the past year, while Australia’s population aged 15+ increased 2.8% over the year to September. Recent weakness in Job Ads has been concentrated in NSW and Victoria, with a more modest subtraction from Queensland. Driving this year’s decline in Job Ads is fewer opportunities in food preparation & service, software development and personal care, which offset more opportunities in healthcare and education.”

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Source: ANZ statements

Under the Ground Lease Model 2 project, Homes Victoria will lease public land to a consortium who will finance, design and construct 1,370 new social, affordable, specialist disability and market rental residential dwellings across four project sites in Victoria. The new housing stock will replace aging properties with modern, accessible and energy-efficient homes in South Yarra, Prahran, Hampton East and Port Melbourne.

The Ground Lease Model 2 project will help address the undersupply of social and affordable housing, increasing existing social dwellings per site by more than 10% and doubling the State’s requirement for specialist disability dwellings.  It is being led by Tetris, with the design and construction to be undertaken by Icon. Project completion is expected by the end of 2026.

Community housing providers will manage and maintain the sites for 40 years, before handing the land, and all dwellings, back to Homes Victoria. Community Housing Limited (Vic) is the lead provider with specialised support from both Aboriginal Community Housing (Vic) Limited and Women’s Property Initiatives.

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.”

“The Ground Lease Model 2 project is a great example of working with our customers to partner with the financial and not-for-profit sectors, to support the Victorian State government in delivering better housing outcomes. We’re pleased to be involved in this important initiative.”

Ryan Slocombe, Principal, Tetris said: “It’s fantastic to see ANZ supporting such an important major housing project that will significantly benefit both future renters and the broader community.”

About the Ground Lease Model 2 project

Procured by Homes Victoria, the Ground Lease Model 2 Project is a Public Private Partnership between the Victorian State Government and the Better Communities consortium. The Consortium is led by advisor and equity sponsor Tetris Capital and comprises Icon Constructions, Community Housing (Vic) Ltd, and abrdn and Invesis. This follows the Ground Lease Model 1 Project currently under construction. More information about the Ground Lease model can be found here.

Source: ANZ statements

Consumer confidence fell 3.2pts, and the four-week moving average decreased 0.8pts.

Among the mainland states, confidence rose only in Queensland, while it fell in NSW, Victoria, SA, and WA.

‘Weekly inflation expectations’ dropped 0.5ppt to 5.2%, while the four-week moving average was unchanged at 5.3%.

‘Current financial conditions’ fell 4.6pts, its third straight weekly decline. ‘Future financial conditions’ were down 1.0pt.

‘Current economic conditions’ fell 5.2pts, while ‘future economic conditions’ softened 0.3pts.

The ‘time to buy a major household item’ subindex dropped 4.9pts.

Source: ANZ statements

Consumer confidence rose 1.8 points, and the four-week moving average increased 0.5 points.

Among the mainland states, confidence rose in New South Wales, Victoria, South Australia and Western Australia, while it fell in Queensland.

‘Weekly inflation expectations’ rose 0.4 percentage point to 5.7 per cent, while the four-week moving average was unchanged at 5.3 per cent.

‘Current financial conditions’ fell 0.8 points after a 5.6 points decline the week before. ‘Future financial conditions’ were up 0.9 points.

‘Current economic conditions’ increased 3.4 points more than offsetting the 3.2 points fall the week before.

‘Future economic conditions’ rose 2.7 points. The ‘time to buy a major household item’ subindex gained 2.9 points.

Source: ANZ statements

Beginning today, our customers in Australia will receive a letter from ANZ’s CEO Shayne Elliott, via email or post, about the increase in sophisticated scams and fraud. This letter will be sent to approximately 6 million ANZ and ANZ Plus customers across our retail, commercial and private wealth businesses.

As part of ANZ’s continued commitment to educate its customers about scams, the letter serves as a reminder of the ways that we as a community can protect ourselves and our loved ones from cyber criminals. It provides some simple tips to help customers stay safe against scams and is an important reminder of the support available for those who may need it, now or in the future.

You can read a version of the letter from Shayne below.

A message from the ANZ CEO

 

In recent times, Australia has seen an increase in sophisticated scams and fraud. It’s a serious problem affecting many of us.

Criminals are constantly changing the ways they scam and defraud the community and we all have a part to play in staying vigilant.

Simple tips to help protect you and your money

• If something seems too good to be true, it usually is. Pause and verify before acting.
• Be suspicious of anyone asking you for personal information or a payment.
• Be wary of unexpected links – even if it appears to come from a legitimate source.
• Never give unsolicited callers remote access to your computer or your banking details – even if they claim to be from ANZ. Consider calling your bank back via their listed details.
• Be wary of a professional-looking advertisement for jobs as a ‘money transfer agent’. What you may unintentionally be doing is transferring stolen money on behalf of criminals.
• Consider using PayID® to make a payment. When you use PayID, the name connected to the account is automatically populated. This can help you check your money is going to the right place before you pay.

Finally, remember, ANZ will never ask you for banking details over email, text or phone.

What to do if you think you’ve been scammed

Don’t be embarrassed – cyber-criminals are skilled at getting you to act quickly. It has happened to others; we can only assist if we know about it.

If something doesn’t feel right or you think you’ve been the victim of a scam, contact us immediately.

You can find more information including our contact details, on our website. Visit anz.com and search for ‘Security Centre’ to learn more.

I hope this information helps make your banking experience even safer; we’re in this together.

Shayne Elliott

Chief Executive Officer

ANZ 

Source: ANZ statements

Consumer confidence dropped 3.7pts, and the four-week moving average decreased 0.8pts.

Among the mainland states, confidence rose only in WA, while it fell in NSW, Victoria, Queensland and SA.

‘Weekly inflation expectations’ rose 0.2ppt to 5.3%, while the four-week moving average increased to 5.3% from 5.2%.

‘Current financial conditions’ fell 5.6pts after a cumulative 6.4pts gain over the previous two weeks.

‘Future financial conditions’ confidence was down 4.8pts.

‘Current economic conditions’ declined 3.2pts, while ‘future economic conditions’ fell 3.5pts.

The ‘time to buy a major household item’ subindex softened 1.1pts.