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Moody’s Investors Services Vice President Saranga Ranasinghe says there is an “expected pullback” in demand for residential real estate.

Australia’s residential segment is “very well positioned” with strong population growth compared to the rest of the developed market, says Ms Ranasinghe.

“We tend to be land constrained in areas where people want to live, so given all of these factors, our longer-term view is that there will be a recovery in residential market,” Ms Ranasinghe told Sky News Business Editor Ross Greenwood.

“Our basic assumption is that there will be a slowdown but it’s not going to be as material as it has been in previous cycles.”