General
House price, mortgage debt surge no cause for ‘immediate alarm’, says APRA
The financial system regulator has reminded Australians that it does not have a mandate to target house prices, or housing affordability.
Key points:
- The bank regulator said it does not target housing prices with its home lending policies
- APRA’s chair Wayne Byres said the current rise in home prices and lending is not alarming, but the regulator is not complacent
- If lending becomes more risky, APRA may intervene with fresh rules for banks
Instead, it said it is focused on the stability of the financial system, and house prices are simply a “risk factor.”
However, Wayne Byres, the chair of the Australian Prudential Regulation Authority (APRA), added that he is watching developments in the property market closely, given the runaway price…
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