RBA says ‘no quick fix’ to house prices
Michael ReadEconomics correspondent
RBA chief economist Sarah Hunter has warned there is no “quick fix” for Australia’s housing market woes, as developers defer projects due to high costs, sending dwelling approvals per capita to decade lows.
The severe undersupply of homes means house prices and rents will continue to rise as the market fails to keep pace with strong demand for space fuelled by high migration and working from home.
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