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Australia home price surge may tighten lending

Prices are rising because of the very low interest rates, says ANZ chief

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Heating up: Australian home prices last month had the biggest monthly gain on record, while Sydney prices climbed 15.6% from a year earlier, according to the RP Data-Rismark Home Value Index. - PHOTO: BLOOMBERG

[SYDNEY] Banks may tighten lending standards and buyers turn cautious if a surge in Sydney house prices spreads to other capital cities in Australia, the country head of the nation's third-largest lender by market value said.

"These price rises are there because of the very low level of...

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