Westpac CEO: Australian housing in an "orderly slowdown"

Westpac CEO Brian Hartzer commented on Australia's housing market following the bank's earnings report earlier, and despite the positive figures investors remain concerned about the overall impact of a possible decline in Australia's housing market.

Key highlights

Hartzer says should not confuse a reduction in the housing market with an orderly slowdown.

External environment remains difficult, hobbling the banking sector.

Westpac's mortgage book remains stable, "fundamentally sound".

Australian housing market is still cooling off much quicker than initially expected, but Westpac is confident.