No Need to Fear House Price Dive, Says Reserve
October 31, 2008
House prices in Australia are not set for precipitous falls, as in the US, nor are household balance sheets suffering too badly, says the Reserve Bank deputy governor, Ric Battellino.
He said that despite the sharemarket plunge, annual returns on shares had averaged 8 per cent over the past five years and real incomes had risen 30 per cent - the biggest surge in more than 30 years.
