New Zealand's success in battling the coronavirus has unleashed an unanticipated problem: skyrocketing house prices. When the pandemic first hit, most experts predicted house prices would fall. The central bank has also recently announced its own moves to restrict lending to housing investors. But, he added, he expects house prices to “keep going up at a great rate of knots” without further strong intervention. Eaqub said that over the past 30 years, New Zealand hasn't built enough homes, especially rental units.

Source: Hindustan Times February 25, 2021 02:26 UTC