RBNZ deputy calls for action on housing imbalances
Grant Spencer says changes to tax treatment of housing should be considered
The longer excess demand persists in the New Zealand housing market, the greater the potential for a "disruptive correction", says Grant Spencer, a deputy governor at the country's central bank.
Speaking at the Chamber of Commerce in Rotorua, Spencer called for action on both the demand and supply factors driving a resurgence in the housing market, noting the Reserve Bank of New Zealand (RBNZ) has helped moderate pressures, but wider efforts are needed.
The shortage is greatest in Auckland
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