Gareth KiernanIt’s now been a year since the most recent round of loan-to-value restrictions was implemented by the Reserve Bank, but there is little sign of the housing market stabilising. Quotable Value’s latest data shows house price inflation in Auckland slowing to a six-year low of 0.8%pa in September. With Auckland’s house prices having fallen in four of the last five months (seasonally adjusted), prices could be dropping in annual terms as soon as next month.
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