English says house price rise unsurprising

Tue, 13 Nov 2012

By Pattrick Smellie Nov 14 (BusinessDesk) - Household incomes have increased by a third in the last four years, while average house prices have risen nationally by only 1.3 percent in the same period, making recent real estate market buoyancy unsurprising, says Finance Minister Bill English. Appearing before Parliament's finance and expenditure select committee this morning, English appeared to have prepared the figures in advance for questions on the apparent heat in the Auckland housing market, which has seen average house prices rise abov...

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