Analysts at TD Securities note that New Zealand’s home sales jumped in October to be +15.5%/y.
Key Quotes
“Median home price was at record high at $562k with inflation at 6.0%/y, well off the (national) lows of +1.8%/y in March.”
“With the slump in swap rates translating into near record low mortgage rates, this shouldn’t bring a surprise. Evidently, RBNZ Gov is pro housing instead of pro affordability.”
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