Reserve Bank of Australia’s (RBA) Alexandra Heath, Head of Economic Analysis, is on the wires now, via Reuters, making a scheduled speech on the outlook for the housing market.
Key Points:
Recent economic data positive.
Now more confident about a sustainable pick-up in non-mining business investment.
Says “paying close attention” to house prices given effect on household wealth.
Dwelling investment not likely to contribute much to growth over next couple of years.
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