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Bollard says residential house prices may fall

Monday 6th of September 2004
"In housing, as with any other investment, it's the investor who takes the risk, thus it's the investor who needs to be careful," Bollard said in speech notes.

However, Bollard was careful to state that the Reserve Bank was not forecasting "a calamitous fall" in house prices over the next few years.

"A reasonable view is that house prices are unlikely to rise much further...
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