NAB boss says housing is Australia's biggest challenge | The Business | ABC NEWS

The boss of National Australia Bank, Andrew Irvine says housing is Australia's biggest challenge. Speaking with The Business, he says the country needs to urgently boost housing supply.
"Supply, supply, supply," he says. "There has been improvements on some of the demand settings, but improving demand settings doesn't get more Australians in homes. What does get more Australians into homes is having more homes to move into, so we simply have to build more dwellings." The Reserve Bank is unlikely to cut interest rates until the middle of next year, Andrew Irvine says the bulk of his mortgage borrowers can hold out until then "most Australian households conditions are improving which I think is positive for the country well." The country's third biggest lender has recorded a slight fall in full year profit (2.9%) to $6.8 billion. Cash earnings were steady at $7.1 billion. Share holders will get a final dividend of 85 cents a share.
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