{
  "id": 1615920,
  "title": "National Australia Bank cuts housing credit forecasts",
  "url": "https://urgent.news/2026/08/18/national-australia-bank-cuts-housing-credit-forecasts",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T02:27:28.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/property/2026/08/1513507/national-australia-bank-cuts-housing-credit-forecasts"
  },
  "original_language": "en",
  "account": "National Australia Bank shares plummeted more than 5.2% on Monday after the bank predicted housing credit growth will slow sharply this year. The government's property tax changes have dampened home buyer activity, leading to a 15% decline in Australian home loan applications at NAB over the third quarter compared to the previous one. The bank, which is Australia's third-largest home lender and top business lender, reported cash earnings of A$1.83 billion for the three months ended June 30, a 2% increase from the prior two quarters. NAB's shares fell by 5.2%, their biggest one-day decline since April of last year, and are now down 7.4% for the year. The bank expects housing credit demand to fall significantly in its 2027 financial year, starting in October, with total housing credit growth decreasing from about 7.5% to 2.5%. CEO Andrew Irvine attributed the challenges to the Middle East conflict, higher domestic interest rates, and recent tax changes in the Federal Budget. NAB also predicted a potential 10% drop in house prices in Sydney and Melbourne this year, with modest growth of 1.0% in 2027. The bank's net interest margin for the quarter was 1.79%, and its common equity tier 1 ratio, a key measure of financial strength, fell to 11.93% in the third quarter from 12.14% the previous year.",
  "summary": "SYDNEY: National Australia Bank shares tumbled more than 5.2 per cent on Monday after the bank forecast housing credit growth will rapidly cool this year, as the government’s property tax changes dampen home buyer activity.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Dawn Business",
        "title": "Balochistan flood project ‘downgraded’ by World Bank over housing cap",
        "url": "https://urgent.news/2026/08/18/balochistan-flood-project-downgraded-by-world-bank-over-housing-cap",
        "published": "2026-08-18T02:30:56.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}