Business conditions aren't translating to confidence, despite growing profits and jobs.
The bond aggregator by itself cannot create a housing development pipeline. It needs co-investment from government to make it feasible.
Scott Morrison has been exploring a UK model for channelling investment via a specialist financial intermediary into new affordable housing provided by landlords with a social purpose. It makes sense.
Where investment loans were the fastest growing category of housing finance at the end of 2015, it is now the leading area of contraction.