The Bank of Queensland says moderating house prices across Australia's east coast are welcome but that it is also bracing for any potential downturn, especially in Brisbane's oversupplied residential apartment market.
BOQ chairman Roger Davis said while speculation of a housing bubble or even a housing collapse continues, the bank was well positioned in the event of any volatility, particularly in the Brisbane apartment market.
"The RBA is warning that this financial year is 'crunch time' given the oversupply, low rental increases, tightening credit conditions and ongoing targeted macro prudential regulations," Mr Davis said in a speech to the bank's annual general meeting on Thursday.
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