Business
House price, mortgage debt surge no cause for ‘immediate alarm’, says APRA – ABC News
The banking regulator says it is watching developments in the property market closely, but it is in no hurry to intervene to stop a surge in mortgage lending.
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…
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