RBA's Kent: Foreign demand has supported building

FXStreet (Bali) - Christopher Kent, Assistant Governor (Economic)at the RBA is speaking before the Australian Parliament’s House of Representatives Standing Committee on Economics Inquiry into Foreign Investment in Residential Real Estate, noting that foreign demand has supported building.

Further headlines included:

"Data shows 5-10% of housing turnover is foreign buying."

"No way of knowing how much foreign buying adds to demand."

"Seems likely that foreign purchases add ‘somewhat’ to demand’."

"Rising prices mainly due to Australians’ demand."

"RBA liason shows blocks to housing supply have eased."