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No housing bubble in Australia, say heads of big banks

Rapid price growth amid anaemic pay increases has made housing affordability a hot-button political issue

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Mr Hartzer (above) said a bubble isn't occurring in Sydney or Melbourne, and Mr Narev felt affordability problems, particularly for young people, should be a matter of national concern.

BT_20170309_BUBBLE9C_2781883.jpg
Mr Hartzer said a bubble isn't occurring in Sydney or Melbourne, and Mr Narev (above) felt affordability problems, particularly for young people, should be a matter of national concern.

Sydney

SOARING home prices in Australia's biggest cities don't necessarily mean the country is in the grip of a housing bubble, according to the heads of the nation's biggest banks.

Testifying before a parliamentary committee, the chief executives of National Australia Bank Ltd,

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