Shane Oliver: No new house price boom

Via Domain:

“The affordability is terrible. It’s improved but it is still terrible,” Dr Oliver noted.

But Dr Oliver, who estimates around 60,000 jobs have been lost from the construction and associated real estate sectors because of the slump in activity over the past 17 months, said there was little chance of a surge in prices as happened after the RBA started cutting rates in 2011.

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