Treasurer urges banks to give home loans

Treasurer Josh Frydenberg is urging Australia's banks to approve home loans, as lending in the housing market falls below the 10-year average.

Treasurer Josh Frydenberg outlined the MYEFO statement on Monday, 17 Dec 2018.. Source: Credit: AAP

It's in Australia's banks best interest to ensure they continue to approve housing loans, Treasurer Josh Frydenberg says.

Mr Frydenberg said lending in the housing market was currently lower than the 10-year average.

"So my message to the banks - keep your books open. You have a social and an economic responsibility to ensure affordable and accessible and timely loans to the broader public ," he told reporters in regional Victoria on Thursday.