While majority of investors are waiting for the effect of relentless rises in property prices and increasing interest rates, Ric Battellino, the deputy governor of RBA stated today that the housing prices in Australia were affordable in relation to the income.
“People feel that house prices in Australia are quite high and that’s quite often because the ratio of house prices to income that are published for Australia tend to focus mainly on prices in the cities, and they are quite elevated,” Mr Battellino said in response to a question at a business function in Sydney.
“But, if you look across the whole country, the ratio of house prices to income is not that different from most other countries.”
Mr Battellino was having a conversation with the Financial Executives International of Australia at the law firm Clayton Utz.
Mark Forytarz and Paul Castran, the two eminent personalities from Castran Gilbert have years of experience in the real estate market of Australia. The two have presided over a number of real estate sales. Paul Castran and Mark Forytarz continuously share their views about the existing situation in real estate sector.
