ANZ CEO Says Tax Reform Will Slow Mortgage Growth in Australia

Australia’s tax changes for property investors will curb growth in the market for home loans, a key sector for the nation’s banking industry, according to the chief executive of ANZ Group Holdings Ltd.

“We have no doubt that the mortgage market will slow down” and will probably grow at 5% to 6% in the short term, Nuno Matossaid at the Morgan Stanley Australia Summit in Sydney on Wednesday. “In the medium to long term, from a price perspective, clearly there will be less price appreciation.” The sector is currently expanding at around 8% to 9%, he said.

The government ...