As often said here, it’s hilarious that the people (VEs) who said there’s no point bringing in the macroprudential thingy-me-jigs because they won’t make any differences are now blaming the regulations for putting a pin in the recovery.
That’s what I would have said until asking prices showed a slight upward blip. Asking prices have shown a very strong correlation with selling prices on the CSO index for the last five years, so I’m going to stick my neck out and say that price drops could be over for now.
“Broker body PIBA (Professional Insurance Brokers Association) claimed that home ownership was now beyond the reach of many potential first-time buyers who are being forced into a very tight and increasingly expensive rental market.”
…as opposed to being forced into a very tight and increasingly expensive buyers market…muppets!!
Has there been any statement from the Central Bank about what accountability the banks have to comply with the macro-prudential measures introduced last year? Will there be a statement released giving the compliance of the various banks with the thresholds?
Yes they have said they will undertake a review after the rules have been in force for a year. I don’t know that they’ll publish details of compliance by each bank but probably something on the overall compliance.