Treasurer Joe Hockey told reporters in Canberra that he was not worried about a housing bubble and rising prices should help generate new construction.
The most important point at this stage is that there is confidence back in the real estate market in Australia,Mr Hockey said.
Rising house prices actually help to make marginal property development viable. And there is a shortage of supply out there and what this will do is make supply more readily available.
Mr Abbott also welcomed rising property prices.
Don?t forget . if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset, he said
I would be confident that the Reserve has got its eye on housing prices and will appropriately manage the level of interest rates.
One aspect to think about is that the Government will be relying on increasing property prices to boost the economy , peoples confidence wealth & spending will go up . The government aren't going to cut the deficit by cutting spending , but by increased income. The property industry is a prime mover in the economy .
There are more people in the market , than trying to get in .....
Cliff
The most important point at this stage is that there is confidence back in the real estate market in Australia,Mr Hockey said.
Rising house prices actually help to make marginal property development viable. And there is a shortage of supply out there and what this will do is make supply more readily available.
Mr Abbott also welcomed rising property prices.
Don?t forget . if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset, he said
I would be confident that the Reserve has got its eye on housing prices and will appropriately manage the level of interest rates.
One aspect to think about is that the Government will be relying on increasing property prices to boost the economy , peoples confidence wealth & spending will go up . The government aren't going to cut the deficit by cutting spending , but by increased income. The property industry is a prime mover in the economy .
There are more people in the market , than trying to get in .....
Cliff