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Business Weekly Economic Report 
Housing market still heating up
Monday, 16 November 2009
  • The housing market continues to show strong signs of supply constraints: rising prices and shortening days to sell, yet still-flat turnover.
  • ASB’s Housing Confidence Survey has shown a dramatic lift in house price expectations: a net 40% of respondents expect prices to lift over the next year, similar to levels seen in the heat of the last boom.
  • The RBNZ once again expressed concern that the economy was again heading for a debt-fuelled housing-led recovery.  The conflict between promoting overall economic recovery and unhappiness with a household-led recovery will challenge the RBNZ’s stated view that it will keep the OCR on hold until the second half of 2010.

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Report Prepared by:

Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992






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