PHOTO: ANZ boss Shayne Elliott says it’s a ‘tough’ revenue environment for banks at the moment. CREDIT: VINCE CALIGIURI

ANZ chief executive Shayne Elliott predicts the pace of home loan growth will slow by roughly half to an all-time low, as an “extraordinary” boom in mortgage debt over the past three decades comes to an end.

Mr Elliott also underlined the tighter credit conditions facing customers, saying the maximum amount banks would lend an average household for a mortgage had fallen by about $110,000 or 20 per cent in the last three years.