Finance Minister Grant Robertson appeared to welcome forecasts of house price moderation. He said both the Government and the Reserve Bank were keen to see house prices become more sustainable. "As a Government we have been concerned about house prices for some time ourselves." The Bank's Monetary Policy Statement (MPS) published on Wednesday afternoon forecast house price growth slowing and eventually going negative, meaning house prices would fall. The Bank's last statement, published in May, forecast continued increases in house prices, although at a much slower speed.

Source: New Zealand Herald August 18, 2021 06:45 UTC