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Housing not too pricey: Stevens

July 24th 2012

The governor of the Reserve Bank has defended the level of Australia’s house prices, and says housing affordability is the best it has been in a decade.

Glenn Stevens also dismissed talk of a housing bubble poised to pop. He said house prices were not unreasonably high.

“Australian dwelling prices on a national basis have in fact declined and are now about where they were in 2002. That is, housing has become more ‘affordable’,” he said. “Four or five years ago we supposedly had a housing affordability ‘crisis’. Now it seems that the problem some people fear is that of housing becoming even more affordable.”

Read more at theage.com.au