Shares in Suncorp fell hard after announcing its annual results, saying it sees a cooling housing market ahead.
A short time ago, the shares were down almost 6% to $13.66.
Suncorp posted a 3.6% rise to $1.075 billion in net profit after tax for the full year but sees some risks emerging from the property market.
“We anticipate a cooling of house price growth nationally while Queensland will continue to benefit from an affordability advantage emerging,” the banking, insurance and wealth management group said when announcing its results.
Business Insider Emails & Alerts
Site highlights each day to your inbox.