Housing stock hits $1,460b as prices, consents ramp up

Housing stock hits $1,460b as prices, consents ramp up
Brent Melville
The market value of New Zealand's housing pool surged by $30 billion last month to $1.46 trillion, up almost 17 percent in 12 months, according to homes.co.nz data.In Auckland, the epicentre of the housing boom, 48.8 percent of all listings now exceed $1 million, although Wellington is catching up with 39 percent of current listings carrying an estimate above $1 million, data provided by the online property valuation site shows.That level of pricing, and a rush to build new houses, has also seen consents propelled to their highest levels in...

More Economy

What Willis was told ahead of Orr’s shock resignation
Economy

What Willis was told ahead of Orr’s shock resignation

Documents released under the OIA shed some light on what happened.

Westpac Bank’s Eckhold says April cut likely wrong move
Economy

Westpac Bank’s Eckhold says April cut likely wrong move

Economists are widely expecting a 25 bps rate cut next week. 

Willis can do more to fix banking competition
Finance

Andrew Body: Willis can do more to fix banking competition

A competitive banking system needs more than lower capital adequacy ratios.

Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.