“The Government should establish an RBA-style Board to oversee APRA with a target for mortgage arrears of between 2 and 3 per cent,” said HIA Chief Economist, Tim Reardon.
'Sledgehammer' approach to risky lending could hurt economy: REIA
Malcolm Gunning, president of the REIA, has warned that the combined actions of APRA, ASIC and the banks could decrease demand for new properties to such an extent that housing supply dwindles and the construction sector weakens.
RBA governor says supply key to improving housing woes
Philip Lowe, governor of the RBA, last night said that increasing supply was the key to easing the housing crisis, but tighter lending rules help to put the economy on a more sustainable footing.
