Westpac (ASX:WBC) ticks up after warning on 20% housing turnover
Westpac Banking Corp added 11 Australian cents to finish at A$35.12 on Monday. Shares outperformed the broader market, which was down, but the move lagged behind other banks as investors looked at steady credit quality and weak mortgage demand. Commonwealth Bank was up 0.62%. ANZ gained 0.63%, both about double Westpac’s percentage rise. Westpac’s economics team sounded a stronger alarm on housing. Matthew Hassan, who leads Australian macro-forecasting at the bank, said, “We expect the changes to drive a steep fall in investor activity with wider market turnover declining 20%.” The team predicted a 2% fall in national prices, which would leave prices unchanged for the year 2026.