Australian banks fall after Westpac flags decline in mortgage applications after tax changes

Westpac Banking

11/06/2026 04:28

** Australian banks .AXFJ fall as much as 1.5%, post their biggest intraday pct loss since June 4 
** No.2 lender Westpac WBC.AX says it saw a 10% decline in mortgage applications since the government announced major tax changes in May budget
** Government's tax changes expected to deepen slowdown in Australia's property market
** Other major Australian banks also fall; top lender Commonwealth Bank of Australia CBA.AX declines 1.8%, National Australia Bank NAB.AX down 1.5%
** YTD, AXFJ down 3.7%

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))