Should the government raise interest rates to prevent a housing bubble?

Should the Reserve Bank of Australia (RBA) raise interest rates to prevent a housing bubble?

In 2015, Treasury Secretary John Fraser warned that Australia’s largest cities were experiencing a housing bubble. He warned that the major cause of the bubble was low interest rates and access to easy financing for real estate loans. In 2016 the average price of a home in Sydney passed $1M. Former Prime Minister Tony Abbott argued that increasing house prices in cities were a sign that the economy was healthy.