Property Council slams government housing reforms as market sinks | 7NEWS

The Property Council of Australia has criticised the Albanese Government's budget tax reforms, with CEO Mike Zorbas warning they will significantly reduce new housing supply over the next year. New home loan approvals have dropped 15 per cent across all buyer groups in the past quarter, while ANZ has defended its $7.5 billion profit — up more than 30 per cent on the previous year — as the big four banks face parliamentary scrutiny in Canberra. The ANZ CEO acknowledges high inflation and interest rates are challenging Australians but denies the bank is taking advantage of the situation.