Anthony Richards the head of economic analysis in the Reserve Bank of Australia said in a housing conference in Sydney that house prices may incline to a level that may hurt households with low income who is trying to buy or rent a house. He added that house prices may increase in a faster pace that he considered undesirable.

House prices in Australia climbed 4.2% in the second quarter that is considered the first increase in five quarters as low interest rates that was kept at 3.00% the lowest in 49 years helped to spur demand in the property market and led to inclining prices.