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…
Continue Reading
-
General18 hours agoUkraine says Russia has ramped up attacks despite ‘Easter truce’
-
General23 hours agoEaster drowning toll in NSW rises after fisherman swept off rocks in Sydney’s south
-
General21 hours agoReason v magical climate thinking – voters have no choice
-
General5 hours agoBoy dies after being trapped between rocks off NSW beach