RBNZ plays just 'a bit part' in fueling house price inflation: Orr

Governor Adrian Orr said housing solutions are simple but not easy. (Image: Getty)

Tue, 02 Nov 2021

Reserve Bank governor Adrian Orr said his official cash rate has played "only a bit part" in driving house prices higher and that the decline in global interest rates "most explains house price moves globally".Orr stressed that although New Zealand house prices have risen the most internationally, the price of houses and other assets has been a global phenomenon.NZ house prices rose 30.4% in the year ended September."NZ is a 'price taker' when it comes to determining the level of long-term interest rates,"...

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