• Westpac CEO Anthony Miller warned on November 12, 2026, that rising construction costs are worsening Australia's housing supply shortage.
• Its financing supported 5,300 apartments and townhouses in 2026 versus around 8,000 in 2025, down roughly 30% despite higher investment.
• Home loan applications are starting to recover following a housing downturn driven by five interest rate increases and federal budget policy changes.
• Higher construction costs are making affordable apartments and townhouses less attractive to build than higher-end dwellings.
• Business investment is shifting toward the private sector, led by larger companies investing in resources, critical minerals and renewable energy.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Westpac Banking Corporation published the original content used to generate this news brief on November 12, 2026, and is solely responsible for the information contained therein.