Reserve Bank of Australia governor Philip Lowe welcomed a slowdown in the housing market, even as the wider Australian economy heats up, in remarks on August 4.
Housing credit growth has slowed, which Lowe called a “positive development”. The RBA views the slowdown as largely down to falling demand from investors. House prices have been falling in several cities, making housing investment less attractive. “This is a normal part of the cycle,” Lowe said.
Lowe noted that while some banks have