Government Shifts Responsibility For Housing Affordability to RBA

March 24th,2014

Real Estate Institute of Australia (REIA) CEO, Ms Amanda Lynch says the Government has failed to introduce any new initiatives to address housing affordability in this year's Budget and has instead passed all responsibility onto the Reserve Bank.

"The good news is the Budget retains conditions where further rate cuts are possible. But as we have seen last week, there is no guarantee cuts will find their way to borrowers," Ms Lynch said.