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National Australia Bank CEO finds explanation for overpriced housing

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National Australia Bank CEO finds explanation for overpriced housing

CEO of National Australia Bank, Andrew Thorburn, announced that he did not consider housing in Sydney and Melbourne to be overpriced, Yahoo Finance reports.

This statement Mr Thorburn made, speaking at a parliamentary committee on the 3rd of March. He specified that, despite the fact that a price boom over the course of the past several years increased risks in the housing markets in Sydney and Melbourne, the values are not overblown.

Andrew Thorburn believes that it is attractiveness of the cities for those searching jobs and the absence of long-term infrastructure that contributes to the problem.

“There are increasing risks, but I still believe no (not overpriced),” he stressed.

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