NZ housing market to cool in 2015 on the prospect of higher rates, Fitch says

Wed, 14 Jan 2015

By Paul McBeth Jan. 15 (BusinessDesk) - New Zealand's housing market is expected to cool this year on the prospect of more interest rate hikes by the Reserve Bank, according to rating agency Fitch Ratings. National house prices are expected to rise 2.5 percent in 2015 with higher interest rates increasing the cost of servicing mortgages and as building rates in Christchurch and Auckland, the country's two biggest cities, boost supply, Fitch said in its global housing and mortgage outlook. That's less than half the 6 percent annual pace in...

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