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Home deposit size could be regulated - RBA

Published on 20 Nov, 2009

The size of the deposit homebuyers are required to put down when buying a property should be regulated in order to stave off price bubbles, a Reserve Bank of Australia (RBA) official has said.

By Robert Carry

The size of the deposit homebuyers are required to put down when buying a property should be regulated in order to stave off price bubbles, a Reserve Bank of Australia (RBA) official has said.

RBA assistant governor Guy Debelle said yesterday that minimum deposit amounts had been introduced in places such as Hong Kong in a bid to prevent cool rising costs amid spiralling speculation.

"At the moment... Singapore and Hong Kong are concerned about what's going on in property prices; they're changing maximum LVRs," said Debelle yesterday.

If adopted by the government, the move would be a further blow to investors already struggling with tightened credit conditions imposed by financial institutions in the wake of the global financial crisis.

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