RBA governor welcomes housing market slowdown

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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

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