Original article by Jacob Greber, Matthew Cranston
The Australian Financial Review – Page: 1 & 6 : 11-Jun-15

There has been a 39 per cent increase in residential property prices in Sydney over the last three years. HSBC’s Paul Bloxham estimates that the cost of buying a house in Sydney has risen to around 5.5 times annual income over the last 10 years. In contrast, the cost of home ownership across Australia has remained steady at about 4.1 times income. Reserve Bank governor Glenn Stevens has not ruled out further interest rates, despite the fact that doing so could put further upward pressure on house prices, particularly in Sydney.

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, HOUSING INDUSTRY ASSOCIATION LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN LABOR PARTY