Oct
09
Aussie Housing Risk Overdone, RBA Unlikely to Cut, Morrison Says
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Sydney property prices jumped 14% this year through September
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‘The old pushing-against-the-string analogy is very relevant’
Treasurer Scott Morrison said debate on Australia’s housing market is prone to exaggeration — even as Sydney property prices rise anew — and indicated he doesn’t see much appetite at the central bank for further cuts in the nation’s already record-low interest rates.
There’s “no evidence” the property market is overvalued outside “arguably some pockets if x and y and z happened, and x and y and z as yet has not happened,” he said in an interview at the International Monetary Fund’s headquarters in Washington. “So I think these risks can be overstated. They can be really overstated. ”…
Aussie Housing Risk Overdone, RBA Unlikely to Cut, Morrison Says
