Evidence decline in house prices has reached an end: RBA’s deputy governor Guy Debelle

PHOTO: RBA

The RBA deputy governor Guy Debelle has noted that the housing market downturn seems to have come to an end.

Debelle, who was the keynote speaker at the 14th Annual Risk Australia Conference in Sydney on Thursday, said there is evidence the decline has reached his conclusion.

“If this is the case, the drag from declining wealth and turnover will dissipate,” Debelle said.

“Housing market conditions may even start to support consumption growth again in the period ahead.”

Debelle suggested the dynamics of the housing markets have affected the consumption outlook.

“Overlaid on the slow growth in household income has been the effect of the decline in housing prices,” Debelle said

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