Eight out of ten Australian property owners do not think that the government's bank reforms have gone as far as they should have, figures suggest.
A survey conducted by Mozo.com.au revealed that the vast majority of people in the country feel that the government should have done more to help those with mortgages in the face of interest rate rises.
The survey also found that many borrowers are cynical about how effective measures to give the Australian Competition and Consumer Commission more power to investigate price changes by the banks will be.
A statement from Mozo said that some 84 per cent of the home borrowers surveyed believe that the government's proposed bank reforms "will not be effective in keeping home loan rates down or in curbing the behaviour of the big four banks".
Some 67 per cent would like the reforms to include a super profits tax on the country's major banks.
Earlier this month, chief economist at the Housing Industry Association Dr Harley Dale said that Australia's government should re-engage in housing policy reform in order to reduce the property shortage that is currently being experienced in the country.
Posted by Ravin Chatlani
