Westpac Forecasts 11% Peak-to-Trough House Price Decline
Photo: TokenPost
Westpac Banking Corporation expects house prices to fall 11% from peak to trough and is targeting more than $600 million in FY27 structural savings, pairing a housing outlook with cost-cutting goals. The bank expects housing-credit growth to remain below 4% in FY27. It forecasts business system credit growth of 6% to 7% in FY27 and FY28. Westpac expects to spend $850 million to $950 million on its UNITE initiative. Total costs are expected not to exceed $3.5 billion, with delivery planned by the end of FY28.
Source: TokenPost
