Stephen Mayne

speaker

4,168 appearances 11 recordings 1 series first heard Apr 2026 last heard 8 Sep

Stephen Mayne’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 11 in all, peaking in Jul 2026 with 4.

Appearances

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The Money Café with Alan Kohler · Housing's Perfect Storm · 8 Sep 2026 podcast

Well, that is interesting.

Just reminds me actually, there was a company called Australian Capital Reserve which went broke before the GFC in 2007 and they were financing $600 million in a whole bunch of properties.

And Becton, this developer who built my apartment back in the day in the Jolly Mount Railway Yards, Becton came in and bought the lot.

They bought the entire property portfolio that Australian Capital Reserve had for $533 million.

And then Becton went broke.

And one of the biggest losers in that was Bank of Scotland, which was, you know, one of the nationalised UK banks.

And that just points to how the system has changed because that can't happen this time because there isn't sort of major banking lenders that you can deal with.

You've got 50 private credit firms and special purpose vehicles on every side.

So you can't do a global deal with Barclay because he is herding cats with all these private credit firms.

And I think it's a real shame that the banking sector has basically gone on strike, partly because of the regulators in APRA,

and just not providing finance to property developers.

And these guys were basically property developers and builders.

Normally they're sort of one or the other, but they were combined.

And they were house and land and high-rise.

And house and land is non-union construction, whereas high-rise is union construction.

So it's a very unusual integrated developer, builder developer.

And with so many financiers, you can't just have, you know, talk to NAB, talk to ComBank and let's do a global settlement.

Instead, it's going to take months to work through site by site.

It seems bizarre, is it?

We're a great property nation and we're a nation where our stock market is ridiculously dominated by banks.

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