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NZ: Property market heat no surprise: English

Posted on 14 November 2012

Household incomes have increased by a third in the last four years, while average house prices have risen nationally by only 1.3 percent in the same period, making recent real estate market buoyancy unsurprising, says Finance Minister Bill English.
Appearing before parliament’s finance and expenditure select committee today, Mr English appeared to have prepared the figures in advance for questions on the apparent heat in the Auckland housing market, where average prices have risen above pre-GFC peak levels………………………………………..Full Article: Source


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