No surprise Budget leaves focus on Auckland housing market
PwC chief executive Bruce Hassall said the Budget’s forecast of economic growth of 2.8% per annum over the next four years indicated growth would be steadier than previously feared.
“Inflation is low, employment growing, unemployment coming down and apart from Auckland housing and construction, capacity pressures in the economy are not threatening.”
It is the Auckland housing market that remains the most toxic risk to the economy, Hassall said.
“Measures to damp down demand - like strengthening the tax regime around property profits – are welcome and are joined by more initiatives on the supply side, especially bringing more Crown land into the market for development.”
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