The Australian property market has played a key role in the country's recovery and it should continue to be supported by monetary policy, it has been claimed.
Australian National Accounts figures from the Australian Bureau of Statistics (ABS) indicate that the government's fiscal measures have been a success, according to president of the Real Estate Institute of Australia (REIA) David Airey.
Rental, hiring, real estate and construction were the only positive elements of the data, contributing to an increase in Gross Domestic Product of 0.2 per cent for the September quarter, he claimed.
Mr Airey added: "These figures highlight the important role that housing is playing in Australia's recovery from the Global Financial Crisis and vindicate the government's fiscal measures that have been implemented to date.
"It would be a shame for monetary policy, through continued and premature interest rates, to put a dampener on the recovery."
Earlier this month, Mr Airey suggested that the most recent housing finance figures from the ABS indicate the impact that higher interest rates are having on borrowers, particularly first-time buyers.
Australian National Accounts figures from the Australian Bureau of Statistics (ABS) indicate that the government's fiscal measures have been a success, according to president of the Real Estate Institute of Australia (REIA) David Airey.
Rental, hiring, real estate and construction were the only positive elements of the data, contributing to an increase in Gross Domestic Product of 0.2 per cent for the September quarter, he claimed.
Mr Airey added: "These figures highlight the important role that housing is playing in Australia's recovery from the Global Financial Crisis and vindicate the government's fiscal measures that have been implemented to date.
"It would be a shame for monetary policy, through continued and premature interest rates, to put a dampener on the recovery."
Earlier this month, Mr Airey suggested that the most recent housing finance figures from the ABS indicate the impact that higher interest rates are having on borrowers, particularly first-time buyers.
