Excluding participation in a government-backed scheme for low-deposit buyers, ANZ saw mortgage application values fall 5% compared to the second quarter. This trend reflects a broader contraction across the sector following the government's decision to eliminate specific tax concessions for property investors. Commonwealth Bank of Australia and Westpac have reported similar declines, with the latter noting a 20% drop in applications.

Despite these headwinds, ANZ maintained growth through increased lending volumes and an improved net interest margin, which rose to 1.54%. The bank's common equity tier 1 ratio reached 12.51% by the end of June, up from 12.4% in March. While the major lenders collectively control over 70% of the national mortgage market, the current regulatory environment continues to exert significant pressure on housing credit growth.