https://www.rba.gov.au/speeches/2019/sp-gov-2019-03-06.html  9/18  3/7/2019  The Housing Market and the Economy | Speeches | RBA  Graph 9  No discussion of housing prices is complete without touching on interest rates and the availability of finance.
Such factors, inter alia, include: the size of the current account deficit; the size of short-term liabilities (including current repayment obligations on long-term loans); the possible variability in portfolio investments and other types of capital flows; the unanticipated pressures on the balance of payments arising out of external shocks and movements in the repatriable foreign currency deposits of nonresident Indians.