No investor credit bubble in Australia housing, says Morrison

Sydney

AUSTRALIAN Treasurer Scott Morrison said he doesn't see excessive speculative borrowing by property investors even as the nation's largest bank tightened its lending criteria.

"Our prices may be high, particularly in Sydney and Melbourne, but they're real," Mr Morrison told Bloomberg Television in an interview in Sydney on Monday. "The issue in housing affordability and housing prices in Australia is the mismatch between supply and demand. It's not the function of any sort of investor credit bubble. They're real prices. They're real values."