RBA worries about rising house prices

The Reserve Bank of Australia deputy governor Philip Lowe said rising property prices in Australia “increase risks in the economy and are unlikely to make us better off as a nation.”

The deputy governor of the RBA said many parents are worried that their children will not be able to afford the type of property that they themselves have been able to live in.

The RBA is reporting that more first home buyers are receiving loans from family and friends or continuing to live in the family home.

Source: Banking Day