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1.Market Observations, 8.Was Sticky

27 Nov 2018 (AFR) – RBA reveals the four reasons behind the house price correction

(27 November 2018, AFR, p2, by Jonathan Shapiro)

‘A credit crunch is not the only cause of the housing correction that has hit Sydney and Melbourne as a buyer retreat has reduced demand for loans. That is the assessment of the Reserve Bank of Australia, which said the “significant adjustment” in house prices over the past year was itself “impinging on the demand for credit”. In comments made in Sydney on Monday, assistant governor Chris Kent said there were four reasons for the decline in house prices. They were – reduction in the supply of credit…’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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