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Strong New Zealand housing market poses dilemma for RBNZ

Posted on 09 November 2012

The surprising strength displayed by New Zealand’s housing market presents the country’s central bank with a dilemma as it holds interest rates at historic lows in its attempt to spark life into flagging sectors of the economy.
Real Estate Institute of New Zealand data released earlier Friday showed the average house price in New Zealand rose to a record high 380,000 New Zealand dollar (US$312,000) in October, adding 2.4% on the month and 5.8% on the year………………………………………..Full Article: Source

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