Also worth flagging that the RBA stated.........>

RBA: Also worth flagging that the RBA stated "There are further signs of a

turnaround in established housing markets. This is especially so in Sydney and

Melbourne, but prices in some other markets have also increased recently." This

points to broader conditions outside the big 2 cities. Last time they noted that

"there are further signs of a turnaround in established housing markets,

especially in Sydney and Melbourne."

- The RBA still noted that "in contrast, new dwelling activity is still

declining and growth in housing credit remains low. Demand for credit by

investors is subdued and credit conditions, especially for small and

medium-sized businesses, remain tight. Mortgage rates are at record lows and

there is strong competition for of high credit quality."