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Monday, 17 Dec 2018
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House Prices As Bad As They Get

The newly appointed deputy chair of the Australian Prudential Regulation Authority (APRA) talking at a FINSIA conference last month said that APRA’s “stability measures” - in other words their restrictions on bank lending introduced last year - have helped prepare the Australian economy for “an unseasonable cold snap”. Really?

APRA are perhaps ignoring the fact that rather than prepare Australia for a "cold snap" they may in fact have caused it.

Here is a table of house prices from CoreLogic as at the end of November. Sydney house prices have been down 8.1% in the last year, Melbourne house prices down 5.8%. Melbourne and Sydney between them account for 55% of the Australian housing market by value. The national annual fall in

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