| The Reserve Bank has downgraded its expectations for the housing market, delivering a downbeat assessment in which it says income-to-housing ratios have reached levels not seen since 2002, and that a recovery is still going to take some time.
The comments, in the bank’s quarterly statement on monetary policy, say the bank’s near-term outlook for residential building activity has been revised down after data showed there are “few signs of an imminent turnaround in demand”...............................................Full Article: Source |