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Australia’s small banks must get bigger to compete against the majors , and the head of one challenger believes the mutual sector could be reduced from 45 to just 10 contenders in a decade as mergers increase.

Meanwhile, the Tim Goyder-chaired Minerals 260 has snuck under the guard of bigger rivals to land an audacious deal in which it will buy a gold project in Western Australia from one of China’s global mining ­giants.

And veteran developer Kevin Seymour says an “air of confidence” has returned to the Queensland property sector after a period of upheaval and he expects construction to start on a Brisbane riverside luxury apartment project in the next few months.