Housing bubbles in most English-speaking countries around the world are likely to burst once interest rates return to more normal levels, but New Zealand should avoid the problem, says National Bank chief economist John McDermott.
Wednesday, October 2nd 2002, 8:37AM
by The Landlord
Since the beginning of 1999, New Zealand house prices have risen about 7%, broadly matching general inflation and with most of the increases coming in the past year or so, reflecting net migration turning positive, he says.
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