Home News Bank regulators must examine housing data carefully, Property Council says

Bank regulators must examine housing data carefully, Property Council says

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The Property Council of Australia has called out to the banking sector’s regulators and urged them to conduct a thorough examination of housing data prior to introducing new measures.
 
The Property Council is particularly concerned about measures that could restrict home lending and adversely affect first home buyers.
 
This call comes as the Australian Prudential Regulation Authority (APRA) reviews investment and mortgage lending in the wake of the recent cash rate cut. The Property Council said investment loans will be “scrutinised thorough for risk factors, having grown by more than $40m in the past two years”. 
 
Meanwhile, executive director of the Residential Development Council Nick Proud said “activity in the domestic investment loan market has enabled construction and developments to progress quickly, but any macroprudential measures that APRA puts in place could reverse the trend in building starts”.
 
"There needs to be a greater understanding about what any future macroprudential decisions made by APRA will do to housing supply across all states and market segments," he said.
 
"These decisions should be made in parallel with consideration of other strategies that stimulate housing supply activity across first home owners, owner occupiers and seniors."
 

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