Business
BNZ warns over-zealous investors will push house prices to unsustainable levels – Stuff.co.nz
House prices may not be too out of kilter yet, but more “aggressive” increases will put owning a house out of reach for more people.
Over-zealous investors are at risk of pushing New Zealand house prices to unsustainably high levels, warns the BNZ.
The property market has heated up significantly since the end of the alert level 4 coronavirus lockdown, thanks in part to low interest rates, the temporary removal of loan-to-value ratio (LVR) restrictions, and a lack of homes for sale.
The economy is in recession, but many parts of the country are seeing record high median prices with people flocking to buy properties.
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