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No bubble trouble in house price rise

Posted on 14 November 2012

The outlook for property prices and new home construction is good but there’s no sign of a 90s style property boom, a central bank analyst says. A growing population, the current low rate of new home construction and a tight rental market have created the right circumstances for an uptick in housing demand, RBA head of economic analysis Jonathan Kearns said on Tuesday.
‘We are not seeing declines in income growth or a significant increase in unemployment, so the strength in earnings and incomes for households is still going to be quite reasonable and certainly sufficient to support an increase in housing construction,’ Mr Kearns told an Australian Business Economists (ABE) lunch in Sydney………………………………………..Full Article: Source


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