Wage, price pressures ‘inevitable’ as Auckland, Christchurch drive building boom, RBNZ says

Mon, 14 Oct 2013

By Jonathan Underhill Oct. 15 (BusinessDesk) – The building boom looming in Christchurch and Auckland in the next three years will inevitably put upward pressure on wages and prices in the construction sector and could spill over into general inflation, driving up interest rates and the kiwi dollar, the Reserve Bank says. The Auckland Housing Accord aims to free up enough land for 39,000 homes in the next three years, while 12,000 new homes that may be built in Canterbury in the same period. To achieve that, new dwelling construction would...

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