Reassurances from our outgoing Reserve Bank governor, about the state of the housing market

The central bank's projecting house prices will rise steadily over the next few years.

But by late 2028, it still expects prices to be about three-percent lower than the record high reached in late 2021.

Christian Hawkesby says price increases, in line with incomes, are a positive thing.

He says it's a good place to be in, where house prices rise at a rate that can be sustained.