House prices
BoE paper examines regulation spillover effects
Case study analyses effect of Spanish balance sheet regulation on Mexico’s economy, showing housing credit contracted
DNB warns of overheating in Dutch housing market
Government should raise borrowing limits and reduce mortgage interest tax relief – DNB
Riksbank’s new stability chief resigns after less than a week
Henrik Braconier says he regrets stepping down from his former role with Finansinspektionen
Denmark central bank issues warning as economy heats up
The National Bank of Denmark cautions the labour market is tight and the economy may be close to overheating
Housing reform ‘will stabilise’ market – Danish central bank
The new taxation system aims to reduce price volatility by 20% and stem rising house prices in cities
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
Riksbank: housing market is a ‘serious threat’ to stability
Swedish central bank welcomes amortisation proposals, but says further measures may be needed
Graeme Wheeler: LVR restrictions seem to be working
RBNZ governor looks back over five turbulent years; says housing market restrictions have reduced systemic risk and the market seems to be cooling
ECB paper presents new measure for monitoring real estate vulnerability
Aggregated measure out-performs most models as predictor of past crises, authors say
IMF paper explores sustainability of price rises in Colombia
House prices have increased more than 110% in real terms in major cities, but houses are just 13% overvalued
Lithuanian paper examines interplay between European housing and credit
Panel-like econometrics may give misleading results, authors warn
RBA’s Kent warns mortgages are still risky, despite offsets
RBA assistant governor says use of offset accounts does not remove the need for tighter lending standards; new securitisation database sheds light on housing market
Singapore’s inflation sees sudden drop in June
Sharp fall in inflation was due to the falling prices of housing maintenance and repairs, triggered by the timing of government rebates
Eurozone tax systems subsidise housing debt, ECB paper argues
Under-taxation of returns to home equity drives distortions, researchers say
US policy having a larger impact on credit – BIS paper
Monetary policy’s effects on credit and housing markets have grown while the effects on inflation have weakened, paper finds
Authority needed to tackle housing problem – Malaysian deputy
Malaysian deputy discusses the affordable housing dilemma, concluding that greater co-ordination is needed on a national level
House prices could outstrip income for decades – David Miles
Former Bank of England policymaker says under “plausible” assumptions, real house prices can rise without limit, implying high prices are not necessarily a sign of bubbles
OECD urges RBNZ to adopt debt-to-income restrictions
The OECD said adding a debt-to-income limit to the RBNZ’s macro-prudential instruments could increase the resilience of bank balance sheets
Irish central bank renews Brexit warnings
Rapid house price rise fuelled by scarcity, Central Bank of Ireland says
Income is an important factor for housing demand in Turkey – paper
Profitability of housing investment in Turkey fell in 2003–14; Ceritoğlu suggests drop in home ownership is down to relative price changes
Bank of Canada wary of hotter housing market
The central bank lists household indebtedness and regional price increases as two of its top concerns; Poloz says it is too early to say if more macro-pru needs to be implemented
RBNZ consults on DTI limits with full macro-pru review scheduled for 2018
Central bank evaluates benefits of limit and how it would interact with current macro-pru policies; consultation offers reassurance to households about welfare costs
Growth in offshore funding is creating risks – RBNZ
Financial stability report notes growing reliance of banks on offshore funding sources could become a problem; housing market risks require new prudential tools
Household debt is ‘serious threat’ to Swedish economy - Riksbank
Banking system is also vulnerable, central bank says