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An Australian property market reckoning is coming




The Reserve Bank’s charter requires it to work towards the economic prosperity and welfare of all Australians, but for most people that can be narrowed down to one issue – house prices.

Since the advent of non-bank lenders in the mortgage market in the 1990s, property prices have grown faster than wages and inflation, generating an ongoing debate about who is to blame for a situation that leaves one of the world’s most sparsely populated nations with some of the globe’s most expensive housing.

It’s an issue of which the RBA is acutely aware. And the sharp lift in house prices through the past 12 months, as interest rates have fallen to their lowest levels in history while…

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