Auckland house prices concern Govt: Key
He told a post-cabinet press conference today that house prices had only recently become a concern to central Government.
The Reserve Bank warned last week it would move to raise the official cash rate if momentum continued in Auckland’s house prices.
Key said it was not up to Government to intervene in monetary policy but Government was focused on the issue of rising house prices and was looking for solutions.
Key said even if the draft Auckland plan was approved immediately, there would still be a delay before new housing supply became available.
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