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Author Topic: Bank of Aussie warns of rising housing market risk of rising household debt  (Read 645 times)

dook

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Bank of Aussie warns of rising housing market risk of rising household debt

The Reserve Bank of Australia (RBA) has warned that the housing market, which is expanding at this time. This could result in higher debt numbers and undermine the stability of the domestic financial system. He also called on banks to maintain lending discipline during the booming housing market.

The semi-annual Financial Stability Review released today said: In general, the Australian banking system remains strong and has a sufficient capital base, but the RBA needs to keep an eye on the surge in house prices, which is also driving up debt.

"In that positive Rising house prices provide financial flexibility for borrowers with outstanding debt. But on the negative side This creates a systemic risk as it increases the debt burden of the household sector. This fragile situation will continue. If the housing market grows hot," the RBA report states.

The risk has prompted the Australian Policy and Surveillance Agency (APRA) to adopt tougher measures to curb home loan lending and signal further tightening, saying the rapidly expanding lending that had "extended" would be a threat. As a result, house prices skyrocketed. It is a risk factor for the country's financial stability.

APRA estimates that the homebuyers' loan repayment assessment will increase. The move is also expected to slow down Australian house prices, which soared more than 20% last year. that APRA will take additional measures in the future

The report stated that The median price of homes in Sydney alone has risen A$196,000 from the start of the year to September. or an increase of approximately AU$5,568/day



 

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