Wheeler: risk of house price 'correction' grows

Reserve Bank governor Graeme Wheeler today upped the tone of his warnings about the country's over-exuberant housing market.
 
There is "the risk of a future sharp correction in house prices, which could place considerable pressure on the balance sheets of indebted households," says the central bank's latest  financial stability report, released this morning.
 
While the drivers of today's boom are quite different from those of a decade ago, the impact on the country financial stability is still potentially large. 
 
 

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