Latest NewsAsic Eyes Housing Market SupervisionTuesday, 21 February 2017

Australian Securities and Investments Commission chief economist Alex Erskine says the regulation of the housing market is the "next logical step'' in the responsibilities of the corporate watchdog, and that the market should operate on similar principles to the stock exchange, according to a Fairfax Mediareport.

According to the report, Mr Erskine said the input of ASIC would increase transparency in the housing market while lowering sharp distortions in home prices.

He said that aligning the regulation of the housing market with equities would allow for the rise of products that could help consumers to hedge house price risk as they can in sharemarkets, according to Fairfax.

Mr Erskine said that while housing markets worldwide were central to the recent global financial crisis, there was little incentive for regulators ''to look beyond their legal mandates to the housing and housing finance sector."

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