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Darkman

"rapid House Price Rises In The Past"

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Rapid house price rises in the past

Rapid house price rises are being touted as a thing of the past by the Reserve Bank because of tougher lending standards.

The RBA's head of financial stability Luci Ellis says there will be fewer buyers in the housing market, which means less upward pressure on prices.

"Housing prices are therefore going to be cycling around a slower trend than they did in the past," she said.

"There will be more periods where prices are falling a little."

Since the GFC, the RBA and the Australian Prudential Regulation Authority have urged to put an emphasis on the borrower's ability to meet everyday costs as well as their loan repayments.

"After all, it doesn't seem reasonable to expect people to have a poverty-level lifestyle to pay off a million-dollar home," Dr Ellis told the Citibank Residential Housing Conference in Sydney on Thursday.

https://au.finance.yahoo.com/news/rapid-house-price-rises-past-040710104.html

Oh yeah, sorry.... this is from Oz not the UK. Apparently those in power over there understand the silliness of crazy house prices.

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steady on, aussies only just recently elected that new guy!

Ah so he's probably still in the "common sense" phase. Give him a couple of years, and he'll be borrowing and pumping up prices like everyone else.

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