On Tuesday, the Reserve Bank of Australia decided to leave the cash rate unchanged at the current level of 1.75 per cent. According to a statement made by Glenn Stevens, indications are that the effects of supervisory measures have strengthened lending standards in the housing market.

While housing prices have risen in many parts of the country, the Board is satisfied that recent regulatory measures introduced by APRA, as well as the increased supply of apartment stock, will likely keep the price pressures contained.

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