15.05.2013 - NZ housing market overcooked: IMF
New Zealand housing is already overvalued by about 25 percent and if it continues to rise may force the Reserve Bank to hike interest rates, according to the International Monetary Fund. Property in New Zealand has become less affordable in the past two decades with the median house price at about four times income, some 20 percent higher than the average of the past 30 years, it said..........................................Full Article: Source
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