Is the RBA too focused on investment in the property market

Is the RBA too focused on investment in the property market? No. However, it did take them a little while to up the rhetoric around the levels of investor activity in the housing markets - specifically in NSW and VIC. The 10% YOY rise in property prices to date is not a bubble in itself, however, another 10% would certainly create concern. We are not talking about general housing issue but specifically about an increase in property investor activity. However, it is the collateral damage on the rest of the economy from the fall out from poor investment that is of concern. Recent comments from the RBA about potential macroeconomic tools will have helped cool property investment lending. However, I suspect this will never result in actual policy outcomes.