Read about it in the AFR today. Summary here:
Housing is the most affordable it has been in almost a decade but consumers remain negative. Writing in the Weekend Financial Review, Rismark and Yellow Brick Road director Christopher Joye says negativity in the media distorts a more nuanced view put forward by the Reserve Bank of Australia and leads to an unnecessary level of pessimism among consumers. Mr Joye argues that housing affordability is at its best in years. “Much of the responsibility for resisting the vocal spruikers of housing hysteria has again been left to Australia’s central bank,” he writes. A joint analysis by the Housing Industry Association and the Commonwealth Bank, released on Thursday, found homes in the June quarter were their most affordable since 2003. Property industry figures say a stronger focus on the family balance sheet has taken the heat out of the housing market.
