“We don’t mechanically respond to falling house prices, but the housing market is really important,” she said at the Barrenjoey Annual Australia Economics Forum. Ms Hunter conceded movement in house prices could have an impact on the broader economy and the RBA’s dual mandate. First-home buyers are “less likely to be affected” by Sydney’s housing price and unit downturn as historically affordable areas have increased. ”This appears to reflect a range of factors, including recent policy developments affecting the housing market and a general softening in housing market sentiment. ”Even so, the easing in established housing prices has so far been modest following a period of strong growth.