Dollar up after OCR held
The New Zealand dollar climbed more than half a US cent after new Reserve Bank governor Graeme Wheeler gave no indication he's leaning towards cutting rates.
The New Zealand dollar climbed more than half a US cent after new Reserve Bank governor Graeme Wheeler gave no indication he's leaning towards cutting rates.
Housing affordability is still a problem and the "housing market is not working properly'', says Finance Minister Bill English.
Buying a home has become more affordable in every part of the country over the the past twelve months - except in Auckland.
A lower-than-usual number of new house listings for this time of year resulted in record house prices last month, according to figures out today.
Most agree that the kiwi is overvalued and some say the solution is for the Reserve Bank to cut interest rates. But two differing perspectives argue it's not that simple. Add your comment to the debate.
Eleven Auckland suburbs now have average house values of $1 million or more - and New Zealand could have its first $2 million suburb by Christmas.
New Zealand should be "very worried" about the stability of the country's financial system and active government support is required, says a top financial strategist.
The New Zealand dollar's strength against the greenback is already a headache for exporters, but things could get much worse, with a pick the kiwi will reach US90c in the next 12 to 18 months.
The steady life in sales and prices started in the central Auckland suburbs over a year ago and has now spread across the new supercity. But as Bruce Morris reports, it's still tough going out in the provinces.
The provincial towns and cities are well below their 2007 peaks, but there are signs of life south of the Bombays, reports Bruce Morris.
Bank economists suggest it is time to fix at least part of your home loan.
Most economists forecast the euro zone's central bank will tomorrow ease its key rate, already at a record low 1 per cent.