Appearing before a parliamentary committee

  • Foreign demand has supported building
  • Data shows 5-10% of housing turnover is foreign buying
  • No way of knowing how much foreign buying adds to demand
  • Seems likely that foreign purchases add ‘somewhat’ to demand’
  • Rising prices mainly due to Australians’ demand
  • RBA liason shows blocks to housing supply have eased
  • Housing demand partly owing to low interest rates