Wheeler shines a spotlight on housing supply
The Reserve Bank of New Zealand (RBNZ) governor Graeme Wheeler believes the restrictions on new mortgage lending introduced earlier this week will help reduce house price increases, but a "more fundamental solution" would be to increase the country's housing supply.
Wheeler today explained that house prices are rising rapidly in Auckland and Christchurch – the largest cities in New Zealand's north and south islands respectively – on account of both housing shortages and easy credit.
To tackle
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