Rising housing pressures pose growing risk to NZ financial stability, Wheeler says

Tue, 07 May 2013

By Paul McBeth May 8 (BusinessDesk) – Increasing pressure in a housing market where supply is failing to meet demand is posing a growing risk to New Zealand’s financial stability, according to the Reserve Bank. In the bank’s six-monthly financial stability report, governor Graeme Wheeler said the country’s financial health is still sound, though growing private sector credit and rising house prices which are already high pose a concern to the central bank. The fears have emerged as Auckland and Christchurch stand out as struggling to meet d...

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