RBNZ's Spencer: Action need to reduce housing imbalance

Comments from Deputy Governor Grant Spencer

• Action needed to reduce housing imbalances
• Other macro-prudential options being assessed, including investor lending
• RBNZ would like to see measures on tax preferred status on housing investment considered
• Housing supply constraint must be main priority
• Rising asset prices are raising financial stability concerns
• Housing market presseures re-emerged in Q4 2014, market imbalance greater in Auckland