After new statistics this week showed that house price growth accelerated in the past three months, Mr Gonski said in Melbourne today that all the banks “are very aware of history”. “They know that you can have the growth in prices that we have had and over time and there will be a correction,” Mr Gonski said. “I don’t know whether it is going to happen tomorrow, at five o’clock this afternoon or in three months. I have no idea.
ANZ chairman David Gonski says a correction in the housing market is inevitable amid growing concerns that soaring house price growth in the capital cities risks further inflating a property bubble in Australia.
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