Australian Housing Dynamics and Affordability
RISK MANAGEMENT
COMMERCIAL PROPERTY PORTFOLIO
COMMERCIAL PROPERTY OUTSTANDINGS BY REGION
COMMERCIAL PROPERTY OUSTANDINGS BY SECTOR
$b
%
%
100
42.4
42.9
12
40.2
80
2.8
2.8
38.4
37.9
37.7
37.5
37.6
11
2.9
60
3.9
3.6
2.7
2.4
3.0
10
40
10.7
10.5
20
9.8
9
8.8
9.5
9.7
9.5
9.7
8
Mar-17
Sep-17
Mar-18
Offices
Retail
Industrial
Sep-18
Residential
Mar-19
Sep-19
Tourism
Other
7
10
5
•
28.9
29.6
4
27.5
25.7
24.8
25.5
25.4
24.9
3
2
1
0
PROPERTY PORTFOLIO MANAGEMENT
.
•
Australian exposure increased by 2% HOH driven by higher lending to Funds
and REITS in the Industrial sector partly offset by a decline in Residential
lending given the slowdown in the residential property market. Retail exposure
declined over the half and the Retail portfolio continues to be closely monitored
owing to the weak operating environment
Slight decline in New Zealand exposure was driven by exchange rate
movements and some significant repayments occurring during 2H FY19
APEA exposure remained stable for 2H19 with the portfolio concentrated on
large well rated names in Singapore and Hong Kong. The Hong Kong Property
market has seen a 1% index decline given current unrest. Market consensus
estimates a decline as high of 10-20% if the protests continue through the year.
The Hong Kong property portfolio remains subject to close monitoring of internal
and external metrics
Mar-16 Sep-16 Mar-17 Sep-17 Mar-18 Sep-18 Mar-19 Sep-19
% of Group GLA (RHS)
Australia
New Zealand
APEA¹
1.
APEA = Asia Pacific, Europe & America
ANZ
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