RBNZ sees strong house price inflation lasting longer than it thought

Wed, 11 Dec 2013

By Paul McBeth Dec. 12 (BusinessDesk) - The Reserve Bank expects the country’s strong house price inflation to persist for longer than it previously thought as low interest rates, rising net migration and a supply shortage continue to drive the market. New Zealand house prices have increased 18 percent in the past two years, driven largely by a lack of supply in the country’s two biggest cities Auckland and Christchurch, and prompting the Reserve Bank to impose restrictions on the level of high loan-to-value ratio lending banks can write as...

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