house prices

PHOTO: New Zealand is seen as the initial property market taking a HIT from ‘Covid Inflation’. FILE

The era of ultra-low interest rates and cheap finance has driven a global house price boom, and in New Zealand the house price-to-income ratio has topped that of many OECD nations. But now, as interest rates rise and prices dip, the nation’s housing market has become something of a canary in the coal mine for the rest of the world.

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