The property party is over as our biggest bank curbs lending

PHOTO: When the nation’s biggest lender starts reining back it’s a good sign the party is over. Photo: Josh Robenstone

Australia’s housing-market extravaganza is over. That’s the call the nation’s biggest mortgage-lender is making when it comes to its own money.

In the past year, the Commonwealth Bank has reduced its exposure to apartment developers by more than $1 billion, or 23 per cent, according to data included in its first-half earnings report, released on Wednesday.

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