RBA slowing housing market: Ray White

Ray White chairman Brian White has said the heavily publicised concern from the Reserve Bank of Australia over house prices has already taken a toll on the property market, The Australian Financial Review reports.

Mr White said the consistent talk of bubble risks had forced some buyers back into their shells, with activity slowing noticeably this month.

“We had a big September. We sold more than $3.1 billion worth of property but we’re noticing fewer groups at open for inspections and auctions. You can just tell it’s changed,” he told the AFR.

“Comments from the RBA do a much better job at cooling things down than an interest rate rise.”