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Kiwi House Prices No. 2 In The World

If you thought Kiwi house prices were going up an eye-wateringly rapid pace, you’d be right.

8 October 2021

New Zealand houses were the second-highest for price growth in the world, Knight Frank’s Global House Price Index showed in June 2021, with growth of 22.1 per cent.

That puts us only after Turkey, which had a 32 per cent price increase.

The report says global housing prices increased on average 7.3 per cent round the globe in the 12 months to March, its fastest pace since 2006.

The top five countries for price growth are Turkey (32 per cent increase), New Zealand (22.1 per cent), Luxembourg (16.6 per cent), Slovakia 15.5 per cent, and the US (13.2 per cent)

The figures have sparked fears of a property bubble, says Bloomberg, which noted that several countries, New Zealand included, had taken steps to take the heat out of the market.

We’ve already cut out the favourable tax incentives property investors enjoyed, followed by bringing in stricter new Loan to Value Ratio (LVR) rules.

Then this month, the Reserve Bank signalled Debt to Income ratios for new lending could be next on the horizon.

JUNO’s content comes from sources that JUNO magazine considers accurate, but we do not guarantee its accuracy. Charts in JUNO are visually indicative, not exact. The content of JUNO is intended as general information only, and you use it at your own risk.

Informed Investor's content comes from sources that Informed Investor magazine considers accurate, but we do not guarantee its accuracy. Charts in Informed Investor are visually indicative, not exact. The content of Informed Investor is intended as general information only, and you use it at your own risk.

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