John Key says house prices won't collapse

Thu, 04 Nov 2021

Former prime minister John Key doesn't expect any collapse in house prices, despite warnings of that possibility from the Reserve Bank and the New Zealand Initiative.Speaking on a webinar hosted by the NZ Initiative, Key said: "We live in a property-owning democracy. It's not surprising that house prices have gone up rapidly. As interest rates fall, people's capacity to borrow and service a mortgage increases."Key, who chairs ANZ Bank NZ and sits on the board of its Australian parent, noted the bank has taken "a prett...

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