Risks to Australia's financial stability from housing has "abated somewhat": regulators

[SYDNEY] The potential for risks to Australia's financial stability from falling housing prices in Sydney and Melbourne has abated somewhat, with home values rising in recent months, the Council of Financial Regulators said on Monday in a quarterly statement.

The council is a non-statutory coordinating body for Australia's main financial regulatory agencies.

Australia's housing market has bounced back in the past couple of months after two years of downturn, with mortgage approvals and auction activities all showing an upturn.

REUTERS