Housing

The New Zealand dollar, the housing market and high borrowing in the agricultural sector are all providing major concerns for the Reserve Bank.

The Reserve Bank is warning that escalating house prices are placing risks on the New Zealand financial system.

The median price for real estate sold in Otago last month rose by $4500, or 1.9%, compared with February. Prices increased in North and South Otago but fell in Dunedin.

Applications for a trial targeted rate scheme for installing insulation and clean heating in 500 Dunedin homes are open after the scheme recently received Dunedin City Council approval.

Aucklanders' love affair with property has been questioned by a leading economist who says renting makes more sense.

Housing affordability has become a focus after the Government reacted to the Productivity Commission's recommendations. Business editor Dene Mackenzie reports on the issue.

The Government is to place a six-month time limit on councils processing consents for medium-size projects, including housing developments, as part of its push to make homes affordable.

As the Queenstown Lakes District is confirmed as leading New Zealand in population growth, the struggle for affordable housing continues.

Otago recorded the highest percentage lift in house prices in the country last month, figures from the Real Estate Institute of New Zealand show.