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More from Bloomberg.com: In Video, Uber CEO Argues With Driver Over Falling Fares Housing affordability has become a hot-button political issue, with New South Wales premier Gladys Berejiklian promising to make it one of her top priorities. Last month, she appointed former Reserve Bank of Australia governor Glenn Stevens to advise on the options. Central bank Governor Philip Lowe has signaled hed prefer not to ease interest rates as it would further inflate Sydney house prices and drive already record household debt even higher, threatening financial stability. The strong growth conditions across Sydney have provided a substantial wealth boost for home doctor home loan australia Oak Laurel 0430129662 owners,said Tim Lawless, head of research at doctor home loan australia Oak Laurel 0430129662 oaklaurel.com.au CoreLogic. However, the flipside is that housing costs are becoming increasingly out of reach. Prices are now almost 8.5 times higher than household incomes in Sydney, according to CoreLogic. There are, however, considerable regional variations. Perth, in the mining heartland of Western Australia thats suffering as a decade-long investment boom winds down, saw values fall by 4.5 percent in the year to February. More from Bloomberg.com: Ryan and Bannon Forge Unexpected Alliance on Border Tax Rental Yields While home values continue to rise nationally, weekly rental increases remain subdued. The average dwelling yields across the combined capital cities fell to 3.2 percent, a new record low. Investors are likely to rely on a tax break known as negative gearing to compensate for cash flow losses as they bet on future capital appreciation, Lawless said. The nations banks are under pressure from theAustralian Prudential Regulation Authority to curb lending to property investors.