世邦魏理仕（CBRE）：2026年上半年澳大利亚贷款机构情绪调查报告（英文版）（15页）.pdf

1、REPORTCBRE RESEARCHMAY 2026H1 2026Australia Lender Sentiment SurveyIntelligent Investment2CBRE RESEARCH 2026 CBRE,INC.Intelligent InvestmentH1 2026 Australia Lender Sentiment Survey|ReportUpdate header text ExecutiveSummaryDespite elevated uncertainty lender appetite is unphased.3CBRE RESEARCH 2026

2、CBRE,INC.Intelligent InvestmentH1 2026 Australia Lender Sentiment Survey|ReportUpdate header text CBRE Researchs H1 2026 Lender Sentiment Survey received responses from key commercial real estate lenders across local banks,international banks and non-banks.We find:Cash rate expectations have materia

3、lly shifted over the last 6-months.Current views among economists and our lenders are divided as to the future path of cash rate movements.Appetite for new loans remains positive despite elevated uncertainty,with 45%of lenders wanting to grow commercial real estate exposures and only 5%of surveyed l

4、enders intending to decrease their book.Lender investment preference has declined in the Industrial sector to the lowest level on record.Instead,interest in stabilised office investment has increased for the first time in three years.Credit margins expectations are divided.Whilst majority of lenders

5、 still expect stability,34%expect credit margins to increase by at least 10bps,up from just 5%in H2 2025.Development feasibility constraints remain a key concern for lenders,however,rising geopolitical and economic uncertainty is impacting the current outlook.When considering refinancing,performance

6、-based variables have risen in importance,as elevated uncertainty shifts the focus towards current performance.The combination of elevated interest rates,rising construction cost inflation and uncertainty is set to dampen acquisition and development loan activity over the next 12-months.Bank lenders