Business
Miners flatten ASX after bright start; Telstra at 12-month high – The Sydney Morning Herald
Australian shares added 0.5% at Tuesday’s open before falling flat. The iron ore miners sagged, though Telstra, Woolworths, and CSL were higher.
Westpac chief executive Peter King says governments and banks need to think about the difficulties younger people facing in getting into the housing market, saying higher house prices are an outcome of ultra-low interest rates.
Mr King on Tuesday said he thought a mismatch between supply and demand was the main driver of the recent surge in house prices, not riskier lending by banks.
But while he played down financial stability concerns from the boom, he said the issue of high house prices locking…
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