https://www.rba.gov.au/speeches/2019/sp-ag-2019-03-20.html  11/14  3/20/2019  Property, Debt and Financial Stability | Speeches | RBA  Graph 9  https://www.rba.gov.au/speeches/2019/sp-ag-2019-03-20.html  12/14  3/20/2019  Property, Debt and Financial Stability | Speeches | RBA  Graph 10  Conclusion Vulnerabilities from the level of household debt, the apartment development cycle and the level of non-residential commercial property valuations continue to present risks for financial stability.
While so far, the financial sector has remained resilient, we continue to monitor developments in household debt and in property markets for signs that these might have more broad ranging effects on the financial system. Endnotes [*]  I am grateful to Nicole Adams and Cathie Close for assistance with this speech.