We need more supply to cool house prices: Bullock
Governor Michele Bullock wants to dampen concern that the Reserve Bank’s February rate cut has sparked a resurgence of rising prices in Australia’s housing market.
Property values lifted 0.4 per cent across the country to a fresh record high in March, according to research consultancy Corelogic.
Perth prices posted the biggest rise of any capital over the previous 12 months, up 11.9 per cent.
But Ms Bullock knocked back worries that the reduction of interest rates was driving demand and pushing up prices.