What can we learn from Australia on data?
Low interest rates and an overheated housing market but this time it’s not Canada. The situation in Australia is not dissimilar to our own and now financial authorities there are to take measures to curb the heat. The big difference is that they are doing so with the benefit of far more official housing data. In the current situation Australia’s central bank was able to highlight the issue of higher investor activity due to accurate figures, both nationally and for the regions. Although a recent survey by the Canada Mortgage and Housing Corporation gave a snapshot of the investment element of the housing market, it was never going to be as accurate as regular rolling data collated from lenders.