Economics
Wheeler Mulls China-Style Curbs to Quash Kiwi Home Boom: Economy
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New Zealand’s central bank Governor Graeme Wheeler is considering Chinese-style lending restrictions to curb a housing boom as weak economic growth and a surging currency rule out economy-wide interest rate rises.
In Auckland, home to a quarter of the nation’s 4.4 million people, demand fueled by mortgage rates near a record low saw a rundown bungalow last month sell for NZ$1.05 million ($861,600), or 2 1/2 times the average New York home. Prices nationally rose