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Australian Economy

RBNZ takes action to limit damage from housing bubble

New Zealand’s central bank appreciates the bigger the bubble, the bigger the bust. Today, it has taken action to curb potential damage from a bigger housing bust by restricting lending in the hope of cooling New Zealand’s overheated housing market. Reserve Bank Governor Graeme Wheeler said “In the current situation,

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Australian Housing

Australian and NZ Housing Bubble bigger than China’s

New Zealand Finance Minister Bill English has told Business Leaders at Auckland’s Mood of the Boardroom breakfast yesterday that by international measures, Australia’s and New Zealand housing markets are “still way overpriced” even going as far to say they are higher than China. “By any international measure, our housing market

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New Zealand Housing

NZ home loan approvals take record tumble

Figures from the Reserve Bank of New Zealand show the number of mortgage approvals in the first quarter of 2010 was down a record 30 percent over the same time last year. The overall value of loan approvals fell 25.2 percent to just $578.2 million. » Home loan approvals take

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New Zealand Housing

NZ Housing Bubble said to be on verge of collapse

New Zealand’s over heated property market is set to fall according to a news report on stuff.co.nz and following a surge of listings as homeowners and investors run for the exit. The Chief Executive of property website realestate.co.nz, Alistair Helm, reports there were 15,129 homes listed for sale in February,