Comments from HSBC's Bloxham on Australian housing debt

It's a market holiday in Australia, but some comments from HSBC analyst Paul Bloxham crossing:

Nothing of much surprise, so just noting these:

• House prices have risen, & household debt has increased in line with this
• Even though interest rates are lower people are still paying similar proportions of their income on interest payments

AUD/USD not doing much at all in the early going, around 0.7620 and thereabouts