M6950 Market Research and Statistical Services

The Australian Digital Inclusion Index 2017

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Aug-17

Telstra CEO Andy Penn has launched the Australian Digital Inclusion Index 2017, which is powered by Roy Morgan Research. The Index shows that digital inclusion is growing in Australia, and Australians are spending more time – and are doing more – online. Since 2014, when data was first collected, Australia’s overall digital inclusion score has improved by 3.8 points, from 52.7 to 56.5. In 2016-17 alone, Australia’s score rose by 2.0 points, from 54.5 to 56.5. Scores for every state and territory also increased over this period. While their individual scores increased by varying amounts, the relative ranking of states and territories remains unchanged since the 2016 report. However, the gaps between digitally included and excluded Australians are substantial and widening. In general, Australians with low levels of income, education and employment are significantly less digitally included. Particular geographic communities are also experiencing digital exclusion.

CORPORATES
ROY MORGAN RESEARCH LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS

Big four banks improve satisfaction while smaller banks decline

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-Aug-17

A Roy Morgan Single Source survey has found that the customer satisfaction rating of Australia’s four major banks was 79.8% in the six months to June 2017, compared with 79.5% in the six months to June 2016. The combined satisfaction rating of all other banks declined by 0.9% points to 84.8% over this period. For more than a decade the big four banks have been gradually closing the gap on the lead held by the other banks. In 2005, the overall satisfaction level of the smaller banks was 77.7%, a lead of 11.1% points over the big four (66.6%), but it is now reduced to 5.0%. Meanwhile, the Commonwealth Bank continues to have the highest customer satisfaction rating among the big four banks (81.0%), ahead of National Australia Bank (79.8%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, TEACHERS MUTUAL BANK LIMITED, HERITAGE BANK LIMITED, BEYOND BANK AUSTRALIA

Customer satisfaction ticks up for big four

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Original article by James Frost
The Australian Financial Review – Page: 17 : 31-Jul-17

Teachers Mutual Bank enjoys the highest level of customer satisfaction among all Australian banks, according to Roy Morgan Research’s latest survey of the sector. It is followed by Heritage Bank and Bendigo & Adelaide Bank, while Teachers Mutual Bank’s customers are most likely to recommend it to a friend. The Commonwealth Bank is the most highly rated of the big four banks in terms of customer satisfaction, followed by National Australia Bank. Collectively, customers of the big four banks are slightly more satisfied with them than they were a year ago, while customer satisfaction with other banks has fallen by 0.9 per cent.

CORPORATES
TEACHERS MUTUAL BANK LIMITED, ROY MORGAN RESEARCH LIMITED, HERITAGE BANK LIMITED, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, ING BANK (AUSTRALIA) LIMITED

Where are the Biggest Mortgages in Australia?

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 31-Jul-17

A Roy Morgan Single Source survey has found that Australians have one trillion dollars in mortgage debt overall. This equates to a median outstanding mortgage of $228,800 for every owner-occupier mortgage holder. The survey, which was carried out in the six months to April 2017, also shows that Sydney has the highest outstanding mortgages, with a median home loan outstanding balance of $293,000 (up 9.4% in a year). This is followed by Perth with $279,000 (up 2.4%) and Melbourne with $243,000 (up 1.6%). Country areas in all states have lower average outstanding amounts than their capitals, with Queensland Country having the highest ($224,000).

CORPORATES
ROY MORGAN RESEARCH LIMITED

Superannuation balance of intending retirees increasing, but females still lag

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 31-Jul-17

A Roy Morgan Single Source survey shows that an estimated 430,000 Australians intend to retire in the next 12 months. An analysis of the superannuation of intending retirees shows that the average balance for women is $158,000, or 60.8% of the male average of $260,000. The gender gap has closed considerably since 2008, when the female balance was only $79,000 or 55.2% of the average male superannuation balance. A great deal of publicity has been given to this issue, and it has obviously increased awareness and effort to improve retirement funding for women.

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ROY MORGAN RESEARCH LIMITED

New Car Buying Intention softens after setting new records earlier in the year

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Jul-17

A Roy Morgan Single Source survey shows that an estimated 622,000 Australians aged 14+ plan to buy a new car in the next 12 months. Meanwhile, some 2,279,000 Australians intend to buy a new car in the next four years – down from a record of 2,490,000 in February, but almost 15,000 higher than in 2016. Roy Morgan Research’s Automotive Account Manager, Rob Heneghan, says analysis using the Helix Personas segmentation shows that one of the biggest drops in buying intention has been amongst the most affluent groups, Leading Lifestyles, which traditionally makes up the largest portion of new car intenders.

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ROY MORGAN RESEARCH LIMITED

Major banks increase ‘share of wallet’ but big potential remains

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 10-Jul-17

A Roy Morgan Single Source survey, which was carried out in the year to May 2017, shows that Australia’s four major banks have increased their share of customers’ dollars ("share of wallet") over the last decade, which correlates with their improvement in satisfaction over this period. The Commonwealth Bank of Australia recorded the highest growth in share of wallet among the big four banks over the last decade (7.4%), although BankSA recorded the largest growth (12.4%). Meanwhile, the top quintile (or 20%) of banking customers, based on the value of all their banking products, now accounts for nearly three quarters (74.2%) of the total value of banking products. The best performer for "share of wallet" in the top quintile is Bank SA (60.3%), followed by CBA (58.1%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANK OF SOUTH AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Solar Electric Panels hot items in Queensland & South Australia

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

The latest Roy Morgan research shows almost one in four Australian households (23.2%) own a Home Solar Electric Panel (Year to March 2017). Ownership is strongest in South Australia (32.8%), Queensland (30.2%) and Western Australia (26.6%). However, take-up lags in Australia’s biggest States with only 17.7% of households in New South Wales and 21% of Victorian households owning Home Solar Electric Panels. In the next 12 months only 1% (94,000) of Australian households intend to buy (or replace) their Home Solar Electric Panels.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Satisfaction with big four banks remains high in May

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Jul-17

A Roy Morgan Research Single Source survey has found that satisfaction with Australia’s four major banks rose by 0.1% to 80.2% in the six months to May 2017, which is well above the long-term average of 74.9% recorded since 2005. The Commonwealth Bank of Australia continued to have the highest level of satisfaction among the big four banks (81.1%), followed by National Australia Bank (80.4%). Meanwhile, satisfaction among home-loan customers of the big four (78.4%) continues to be below that of their other customers (80.6%), although over the last year they have narrowed the gap marginally. The survey also shows that CBA and NAB rank equal highest in terms of main financial institution satisfaction (82.6%), followed by ANZ (82.0%) and Westpac (80.7%).

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, TEACHERS MUTUAL BANK LIMITED, GREATER BANK LIMITED

Lower interest rates reducing mortgage stress

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Jun-17

A Roy Morgan Single Source survey shows that 666,000 Australian mortgage holders (16.8%) were considered to be "at risk" or facing some degree of stress over their repayments in the three months to April 2017. This compares with 744,000 mortgage holders (18.4%) 12 months ago. It is also well below the average over the last decade. Meanwhile, 442,000 mortgage holders (11.5%) are "extremely at risk" of mortgage stress, which is the lowest in over a decade. The survey also shows that mortgage stress is much higher among lower income groups (under $60,000 per annum), where it is currently 85.3% for those considered "at risk" and 65% for those that are "extremely at risk".

CORPORATES
ROY MORGAN RESEARCH LIMITED