Reserve Bank says migration impact on housing 'muted' so far

Wed, 10 Sep 2014

By Suze Metherell Sept. 11 (BusinessDesk) - The Reserve Bank is keenly watching the impact New Zealand's decade-high net migration inflow is having on the housing market, which it says hasn't pushed up property prices as aggressively as in the past. The central bank is monitoring the impact strong migration inflows have on house price inflation as one of four measures in assessing the impact of its interest rates hikes this year, it said in its September monetary policy statement. The bank has been surprised by the "muted" impact, which i...

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