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Westpac chief executive Anthony Miller has told an inquiry, that despite recent setbacks, the bank is starting to see home loan application numbers increase.
The Australian Bureau of Statistics released data yesterday showing new Australian home loan commitments recorded their largest quarterly fall since records began in 2002.
The value of new housing loans dropped 15.5 per cent in the September quarter of 2026.
Mr Miller was among the bank executives to appear at a two-day hearing, as part of a parliamentary review of Australia's major banks.
He has told the inquiry, it is a tough economic environment.
"And while these are challenging times, I remain optimistic about the outlook and confident can navigate the current environment. This year, we've seen a downturn in the housing market, which is understandable given the five interest rate increases and policy changes in the federal budget. From our perspective, this year's movement remains consistent with previous downturns so far. But we are starting to see home loan applications begin to lift. As buyers adjust to the environment. Our longer term challenge remains supply. Australia is simply not building enough housing to meet demand."
A missing teenage hiker in Victoria has been found and reunited with his family, after spending six days lost in the bush in the state's east.
Police say they believe the boy became disorientated and left the track, before failing to return to camp in Gippsland.
The 17-year-old, who has autism, had been on his first ever camping trip with his friend.
He was spotted by the police helicopter after experiencing nights when the temperature dipped as low as 3 and 4 degrees Celsius.
His mother has told Channel Ten, she is relieved he has been found alive - and she thanked all of those who were involved in the search.
"He said 'hi mum'. And he waved at me and he was so happy to see me. He is a mother's boy. He had sumburn and stuff. He just waited to be rescued. They found him. The police helicopter found him. Yeah, I am just over the moon. I can't thank everyone. I can't speak. I'm just so happy."
Police have launched an investigation after the discovery of a human torso inside a sofa in bushland in Sydney's Lower North Shore.
Several passersby in Sydney's Lane Cove reported their suspicions about a foul odour and abandoned couch beside Avian Crescent to police on Wednesday.
Superintendent Paul Devaney says the area will remain closed to the public for at least a couple of days, as investigators search for answers on what happened.
"We are working around the clock to identify this male. To determine what has led to his death and the disposal of his remains. We have a number of resources in that area at the moment: police air wing. We have a cadaver dog."
Mississippi has elected its first Black US senator in 150 years.
Scott Colom is also the first Democrat from the state headed to the Senate in 44 years.
He defeated Republican incumbent Cindy Hyde-Smith in the Deep South state that has been controlled mostly by white conservatives for generations.
In Jackson, Mississippi, these Democrat supporters says they're ecstatic.
Vera Finley: "And I'm here to celebrate my parents and my grandparents. I am not one generation out of the cotton field. Both of my parents picked cotton, and my great grandmother was sold here as a slave, from Virginia to here. So I am so excited to be on this side of history."
Kimberley Johnson: "The mood is light. It is very collaborative. Everybody is mellow. Everybody is happy that we have came together as a people. Not just black people, white people, everybody as a whole, and voted to see Scott as the next senator .'"
The United Nations is calling for stronger protection for people affected by violence in Haiti, reporting more than 1,160 deaths between July and September.
UN deputy spokesperson Farhan Haq says a new report from the UN Office in Haiti, finds gang members were responsible for more than 45 per cent of those killed or injured.
He says investigators also documented increased kidnappings, hundreds of cases of sexual violence by gang members, and the recruitment and exploitation of children.
"BINUH (the UN Office in Haiti) reiterates that efforts to combat gangs must respect international human rights law and calls for stronger protection and assistance for people affected by violence, accountability for abuses, and continued international support for Haiti."
National Australia Bank has agreed to back pay $169 million to tens of thousands of staff for underpayment over 14 years.
The bank will repay the money to staff, including superannuation and interest.
It will also make a $2 million contrition payment to the workplace regulator.
The Fair Work Ombudsman says that amount is the largest ever contrition payment included in an enforceable undertaking.
Australian Test captain Pat Cummins says he will respond to the long list of allegations by Usman Khawaja on the 2018 ball-tampering scandal dubbed Sandpapergate.
Khawaja's memoir released this week alleges the whole team knew of the plan to use sandpaper to alter the state of the ball in South Africa, eight years ago.
In a statement posted on social media, Cummins says he will appear before media on Friday morning in Sydney to answer questions - and respond properly to Khawaja's claims.
Cricket Australia chief executive Todd Greenberg said earlier this week he does not see "any compelling reason" to reopen the investigation into the ball-tampering saga.
