Readers of the monetary policy minutes would have noticed that at its February meeting the Board discussed a special paper taking a deep dive into this topic. My remarks today draw from that paper. I will first focus on the current state of the housing market.
Then, I will discuss the main drivers of recent movements in housing prices, before turning to the implications for the broader economy and the financial system. The Current State of the Housing Market Australians watch housing markets intensely, perhaps more so than citizens of any other country.