NZ doesn’t face US-style property bubble though price growth eyed, says S and P

Thu, 06 Mar 2014

March 6 (BusinessDesk) – New Zealand’s housing market is unlikely to mutate into a US-style bubble, says Standard & Poor’s, although rising prices are at the upper level of the credit rating agency’s tolerance, it told a briefing in Auckland today. “We continue to believe there’s some underlying demographic features that mean we don’t have a US-style bubble in the property market,” S&P senior director Peter Sikora told the NZ Capital & Credit Markets briefing. He said annual growth in property values of 9.6 percent, was “the upper range of o...

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