Housing market losing “fizz”
Historically low interest rates, tight supply and high net migration mean that, led by Auckland, house prices around the country continue to grow, according to the ANZ’s latest Property Focus report.
But the bank’s chief economist, Cameron Bagrie, said that house prices remain stretched relative to both incomes and rents.
“Strengthening house prices have pushed up the value of the nationwide housing stock to six times household incomes and roughly eight times labour incomes.
“Both are approaching 2007 peaks and are well above the three times level evident prior to the early 1990s.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)