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
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 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
As the Queenstown Lakes District is confirmed as leading New
Zealand in population growth, the struggle for affordable
Otago recorded the highest
percentage lift in house prices in the country last month,
figures from the Real Estate Institute of New Zealand show.
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