Australia Bank CEOs urge housing shortage solution

28 Mar 2024 CW Team

The CEOs of Australia's three largest banks expressed concerns about how Australia's housing shortage is not only driving prices higher but also preventing first-time homeowners and migrants needed to fill skills shortages across the country. They highlighted these issues at a banking conference in Sydney, attributing the situation to a housing supply shortage and urging local governments to expedite planning approvals.

According to a 2023 government report, after years of ultra-low interest rates pushing home prices higher, Australia is witnessing a long-term decline in the number of younger people purchasing homes. This trend could potentially result in more individuals retiring with weaker financial positions.

CBA CEO Matt Comyn, speaking at the AFR Banking Summit, emphasized the significant problem posed by the housing market, which ranks among the least affordable globally when considering debt-to-income ratios. Similarly, Westpac CEO Peter King acknowledged that prices tend to rise in a supply-constrained market but noted that current home prices are excessively high from a societal perspective.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..