Population growth, build costs not to blame for high house prices
Housing market of past 20 years assessed by Treasury, Ministry of Housing, RBNZ.
Population growth and construction costs played a more modest role in high house prices.
Booming house prices over the past two decades were more about globally low interest rates, the tax system, and restrictions on the supply of land than population growth or construction costs, a joint paper published today says.
The paper, released by the housing technical working group – a
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