Kelvin Davidson: Property Economist says OCR remaining at 5.5 percent is neutral for the housing market, recovery likely

The housing market is unlikely to be greatly impacted by the latest Reserve Bank announcement. The bank confirmed the Official Cash Rate will remain at 5.5 percent, although there is a possibility this could be raised again this year. Corelogic Chief Property Economist Kelvin Davidson told Kate Hawkesby the decision is neutral for the housing market, with a muted recovery still likely. He says whatever was going to happen to the housing market will still happen. Davidson says there is no need to panic and the hint of a further OCR hike is just a warning. LISTEN ABOVE  See omnystudio.com/listener for privacy information.