Amid speculation that the mining boom could be at its peak, NAB chief executive Cameron Clyne commented Monday that this may not be the case given significant investments were “in the pipeline”.
Addressing guests at a Sydney luncheon, he acknowledged commodity prices had peaked and were falling off slightly, but “were still quite high.”
"There is no suggestion we have seen that people are going to stop that investment. But the other side is that commodity prices are coming off.”
Clyne further allayed fears of a housing market crash, telling guests: “nothing we have seen would suggest that there is a precipitous collapse about to happen.”
He said there was a "floor underneath property prices" which would prevent a collapse.
His comments echo those of RBA governor Glenn Stevens, who last month said the housing bubble was yet to pop.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out