Please click the link below to view Shane Oliver's views on the current state of the Australian housing market.

Key points raised are:

• Australian housing remains overvalued and this has gone hand in hand with high household debt.
• Against this, supply has been constrained and there has not been a deterioration in lending standards.
• The hot Sydney and Melbourne property markets are showing signs of cooling as APRA measures bite.
• Expect price falls of around 5-10% around 2017.
• Property investors need to be careful at this point in the property cycle as medium term returns are likely to be constrained.