ANZ's management changes will involve appointing a new chief financial officer... Sydney vacancy rate set to spike?...
ANZ management changes ahead
ANZ's management changes will involve appointing a new chief financial officer, a new head of international and institutional to replace Andrew Geczy and filling a newly created position of head of digital.
The Australian Financial Review reports this move by new chief executive Shayne Elliott is reason for shareholders in ANZ Banking Group to be nervous, showing the chief is willing to "take the hard decisions ignored or left unfinished by his predecessor Mike Smith".
The tough decisions may include pulling out of several Asian partnerships and possibly withdrawing from retail banking in Asia, having a negative impact upon earnings over the next 18 months to two years and lower dividend payments.
In depth: N1 Finance: Aiming for the ASX
Sydney vacancy rate set to spike?
PIPA calls for minimum property investment advice standards Yields fall as office blocks prove popular investment location Public housing reform to benefit all
While it currently sits at what most would think is an acceptable level, the coming months could see an increase in Sydney’s vacancy rate according to the Real Estate Institute of New South Wales (REINSW).
The latest figures from the REINSW show that Sydney’s city-wide vacancy rate increased 0.4% to 2.1% during December.
The monthly increase was driven by a seasonal change in vacancies in the city’s middle suburbs, where the vacancy rate rose by 0.7% to 2.4%.
The vacancy rate in Sydney’s outer suburbs increased 0.2% to 1.9% over December, while the vacancy rate in the inner suburbs remained on hold at 1.8%.
But while the December increase has been put down to seasonal factors, the harbour city could soon see a further increase as stock comes online in the inner and middle suburbs.
“Come February and March a lot of those bigger apartment developments that are currently underway in the middle and inner suburbs are going to be finished,” REINSW president John Cunningham said.
“That’s going to see a lot more competition in those areas for tenants and I think we’ll see an increase in the vacancy rate as a result,” Cunningham said.
In depth: Top five ways to retain your top talent
ANZ's management changes will involve appointing a new chief financial officer, a new head of international and institutional to replace Andrew Geczy and filling a newly created position of head of digital.
The Australian Financial Review reports this move by new chief executive Shayne Elliott is reason for shareholders in ANZ Banking Group to be nervous, showing the chief is willing to "take the hard decisions ignored or left unfinished by his predecessor Mike Smith".
The tough decisions may include pulling out of several Asian partnerships and possibly withdrawing from retail banking in Asia, having a negative impact upon earnings over the next 18 months to two years and lower dividend payments.
In depth: N1 Finance: Aiming for the ASX
Sydney vacancy rate set to spike?
PIPA calls for minimum property investment advice standards Yields fall as office blocks prove popular investment location Public housing reform to benefit all
While it currently sits at what most would think is an acceptable level, the coming months could see an increase in Sydney’s vacancy rate according to the Real Estate Institute of New South Wales (REINSW).
The latest figures from the REINSW show that Sydney’s city-wide vacancy rate increased 0.4% to 2.1% during December.
The monthly increase was driven by a seasonal change in vacancies in the city’s middle suburbs, where the vacancy rate rose by 0.7% to 2.4%.
The vacancy rate in Sydney’s outer suburbs increased 0.2% to 1.9% over December, while the vacancy rate in the inner suburbs remained on hold at 1.8%.
But while the December increase has been put down to seasonal factors, the harbour city could soon see a further increase as stock comes online in the inner and middle suburbs.
“Come February and March a lot of those bigger apartment developments that are currently underway in the middle and inner suburbs are going to be finished,” REINSW president John Cunningham said.
“That’s going to see a lot more competition in those areas for tenants and I think we’ll see an increase in the vacancy rate as a result,” Cunningham said.
In depth: Top five ways to retain your top talent
