PRODUCTIVITY COMMISSION'S DRAFT REPORT ON FIRST HOME OWNERSHIP Sydney, 18 December, 2003: The Australian Bankers’ Association (ABA) congratulates the Productivity Commission on its draft report into First Home Ownership. This report makes a valuable contribution to the affordability debate, is well researched and manages to distil sound policy responses from complex issues.   The ABA welcomes the finding that: “Lower interest rates, together with innovations in a more competitive housing finance sector, have reduced the costs of purchasing a home and made it easier to borrow.”   ABA agrees with the Productivity Commission that the current housing boom has highlighted the importance of appropriate regulation of lending practices and property investment advice. ABA supports initiatives to improve the quality of regulation.   The ABA will further consider the draft report with the intention of responding formally with a further submission.    For further information:   Heather Wellard ABA Public Relations Phone: 02 8298 0411 Mobile: 0409 830 439   ENDS