APRA says it won't act on house price surge

Australia’s banking regulator appears unlikely to put the brakes on home lending as house prices rise, refuting speculation it was poised to curb the flow of credit in the property industry.

Australian Prudential Regulation Authority chair Wayne Byres told the 2021 AFR Banking Summit that while the COVID pandemic had shaken up the nation’s economy, it remained important that banks did not become too conservative in lending.

Speculation has swir…