Available studies have illustrated the conservative nature of empirical wall design equations provided in major codes of practice. These equations also fail to recognise walls that are supported on all four sides, walls with slenderness ratios greater than 30, and walls that require openings for doors, windows and services. The recognition of such factors in design codes would result in improved designs through the more efficient use of materials and subsequent savings in construction costs. The objective of this study is to investigate the effect of side restraints and the presence of openings for reinforced concrete wall panels loaded axially where load eccentricity induces secondary bending. A numerical analysis of such walls is undertaken using the non-linear Layered Finite Element Method (LFEM). Eight half-scale wall panels tested previously at Griffith University form the basis of a comparative study. The accuracy of the LFEM in predicting the failure loads, the load-deflection responses, the deformed shapes and the crack patterns of the tested wall panels is demonstrated. The establishment of a benchmark model enables parametric studies on a total of 24 new wall panels. These studies investigate the effects of eccentricity on the ultimate load capacity of one-way and two-way reinforced concrete walls with openings. Relationships of failure load with eccentricity are subsequently established.