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Sydney in grip of housing bubble, says Treasury

But house price gains are not seen as a major risk to the financial sector

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Major banks have said they will curb growth in home loans to investors after the country's financial services regulator asked lenders to limit expansion of these mortgages to 10 per cent a year.

Canberra

SYDNEY is in the grip of a housing bubble, Australia's most-senior economic bureaucrat said in one of the strongest warnings yet by a government official.

"When you look at the housing price bubble evidence, it's unequivocally the case in Sydney - unequivocally," Treasury

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