Aussie property market not overvalued: Morrison

Sydney

AUSTRALIAN Treasurer Scott Morrison said debate on the country's housing market is prone to exaggeration - even as Sydney property prices rise anew - and indicated he doesn't see much appetite at the central bank for further cuts in the nation's already record-low interest rates.

There's "no evidence" the property market is overvalued outside "arguably some pockets if x and y and z happened, and x and y and z as yet has not happened", he said in an interview at the International Monetary Fund's (IMF) headquarters in Washington. "So I think these risks can be overstated. They can be really overstated."