Home ownership now 'preserve of the rich': ANZ boss

High immigration, building costs and heavy regulation are contributors, says Antonia Watson. (Image: ANZ)

Tue, 14 Nov 2023

The head of the ANZ bank in New Zealand fears her Australian chief executive’s statement that homeownership “has become the preserve of the rich” is coming true here, too.In an email to BusinessDesk, Antonia Watson, the chief executive of ANZ’s NZ unit and this country’s largest trading bank, said the bank’s group CEO Shayne Elliott was being “candid” in his remarks, published by the Australian this morning.She warned that a combination of factors, including galloping immigration, high constructio...

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