Reserve Bank of New Zealand Governor Orr is speaking on housing issues.
- Says house prices have become more unsustainable over the past 12 months
- house prices and housing affordability are affected by both supply and demand factors
- says unsustainable level of house prices poses monetary and financial stability challenges
- Orr says he expects to see an easing in house prices in the medium term
---
Note that the RBNZ have already begun levying macroprudential measures to try to calm the house price upward spiral in NZ.
