Westpac Mortgage Applications Fall 20% After Tax Changes
Westpac reported a 20% fall in mortgage applications as Australian tax changes weighed on property demand. The bank forecast investor housing credit growth would slow from 9.1% this year to 4.5% in 2027, making mortgage demand a headwind for major bank growth.
What happened
Westpac reported a 20% fall in mortgage applications as Australian tax changes weighed on property demand. The bank forecast investor housing credit growth would slow from 9.1% this year to 4.5% in 2027, making mortgage demand a headwind for major bank growth.
Why it matters
Housing undersupply and population growth are expected to partly offset higher rates and policy changes.
What to watch
Watch next: The next investor housing credit data release will show whether growth continues slowing toward Westpac's 4.5% 2027 forecast.
Transcript
Westpac reported a 20% fall in mortgage applications as Australian tax changes weighed on property demand. The bank forecast investor housing credit growth would slow from 9.1% this year to 4.5% in 2027, making mortgage demand a headwind for major bank growth. Housing undersupply and population growth are expected to partly offset higher rates and policy changes. Watch next: The next investor housing credit data release will show whether growth continues slowing toward Westpac's 4.5% 2027 forecast. FreshInsight delivers source-grounded finance briefs for market professionals. Source: Reuters Not financial advice. For information and education only.
Primary sources
Reuters
Distribution
YouTube / SlakAhsS0Co
Topics
finance, freshinsight, fall, housing, after, applications, australian-housing, bank-equities, changes, housing-undersupply, investor-housing-credit, investor-housing-credit-growth, mortgage, mortgage-applications, policy-changes, population-growth, tax, westpac
Disclaimer
Information and education only. Not financial advice.