Treasury unfazed by declining house prices

Treasury boss Philip Gaetjens says he is not concerned about declining house prices, as long as they don't fall sharply.

Cooling house prices in some Australian cities are not worrying Treasury.

House prices fell by 4.8 per cent nationally in 2018, according to CoreLogic data, and are expected to continue declining this year.

But Treasury secretary Philip Gaetjens has told a Senate estimates hearing that as long as prices don't drop sharply, the falling prices aren't concerning from a policy perspective.