Australian dollar – that big rise in the house price index is a bit of a concern
- House price index for the second quarter is +2.4% q/q vs. expected at +1.0% q/q and prior was +0.8%, revised from +0.1% q/q
- House price index for the second quarter is +5.4% y/y expected was +3.0% and prior was +3.3%, revised from +2.6%
These are reasonably warm figures, and the priors have been revised up.
When does the RBA start to get concerned about house price rises? And does it limit their ‘scope for further cuts’?