Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Housing Market Jitters Grip Australia Banks on Cautious Outlook
Business & Finance

Housing Market Jitters Grip Australia Banks on Cautious Outlook

Bloomberg Markets Thursday 13 August 2026, 01:59 UTC By Adam Haigh 1 min read
Key Points

Housing Market Jitters Grip Australia Banks on Cautious Outlook Banks revealed the extent of the depressed housing market sentiment in Australia this week, dragging down their share prices and underscoring the pressure on profitability. Mortgage applications slumped at least 12% at Commonwealth Bank of Australia, Westpac Banking Corp. and ANZ Group Holdings Ltd. since the government’s May budget set the stage for an end to tax breaks for property investors. It comes after a rise in borrowing...

Housing Market Jitters Grip Australia Banks on Cautious Outlook Banks revealed the extent of the depressed housing market sentiment in Australia this week, dragging down their share prices and underscoring the pressure on profitability. Mortgage applications slumped at least 12% at Commonwealth Bank of Australia, Westpac Banking Corp. and ANZ Group Holdings Ltd. since the government’s May budget set the stage for an end to tax breaks for property investors. It comes after a rise in borrowing costs earlier this year curbed appetite for home buyers and as house prices in major cities like Sydney and Melbourne retreat.
Australia (LOCATION) Commonwealth Bank of Australia (ORG) Westpac Banking Corp. (ORG) ANZ Group Holdings Ltd. (ORG) Sydney (LOCATION) Melbourne (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

Korea Steps Up Home Supply Push as President Faces Discontent

Korea Steps Up Home Supply Push as President Faces Discontent South Korea raised its cap on household debt growth and pledged more homes in the Greater Seoul area, stepping up efforts to contain a relentless housing rally that’s becoming a political liability for President Lee Jae Myung. The government plans to provide more than 230,000 homes in the capital area, including 100,000 units on newly designated sites, according to a joint government statement Thursday. That comes on top of an...

Bloomberg Markets 23m ago

This Chinese firm has topped Micron and Kioxia in shipments of crucial NAND memory chips

BEIJING — Yangtze Memory Technologies is rapidly gaining market share in a critical chip sector, according to Counterpoint Research. The company, also known as YMTC, landed in third place by shipments globally in the second quarter, behind South Korea's Samsung and SK hynix but beating out U.S. rival Micron and Japan's Kioxia, Counterpoint data released Wednesday showed. That's when looking at the NAND memory segment, which contributes about one-fourth of Micron's revenue.

CNBC 23m ago

Tata Investors Turn Focus to Succession, Strategy as Chairman Set to Step Down

Tata Investors Turn Focus to Succession, Strategy as Chairman Set to Step Down Good morning... I’m Rajesh Mascarenhas in Mumbai, where all eyes are on Bombay House, the Tata Group’s headquarters, as the conglomerate grapples with a leadership challenge. In an unexpected move, Natarajan Chandrasekaran, chairman of Tata Sons, said Wednesday that he will step down when his term ends in February 2027, spurring a drop in shares of group companies (more on that below).

Bloomberg Markets 34m ago

Twitch faces backlash over Amazon training AI on its users' livestreams

Twitch's executives said users can opt out of AI training, which has become a common industry practice.

BBC Business 37m ago