House prices likely rose further in June
House prices are expected to have put on a further two per cent in June, which may leave Australia's financial regulators a little anxious as demand for home loans continue to build.
Property data analysts CoreLogic will release its well-regarded home value index for June on Thursday.
In May, its index rose by 2.2 per cent nationally, lifting the annual rate to 10.6 per cent.
The Reserve Bank of Australia has consistently said it is not its role to target house prices, only to ensure that lending standards do not deteriorate.
At a meeting of the Council of Financial Regulators last month it agreed that overall lending standards in Australia remain sound for now.
The council is made up of the RBA, Treasury, the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission.
Figures released by the RBA on Wednesday showed housing credit grew by 0.6 per cent in May, the largest rise since June 2017.
However, the growth was largely made up by owner-occupier loans, rather than what are considered more riskier investor home loans.
Separately, the Australian Bureau of Statistics will release international trade figures for May and job vacancies for the May quarter.
Economists expect the trade balance for goods and services to balloon to a record $10.5 billion surplus in May, buoyed by commodity exports, particularly iron ore shipments to China.
The previous record surplus was $9.7 billion in March 2020.
Economists are also expecting another upbeat job vacancies report for the May quarter, given the strength of other measures of job advertising, a positive for future employment outcomes.
