PHOTO: Reserve Bank Governor Adrian Orr (Source: Getty)
Times are changing and the tide is turning when it comes to house prices, the Reserve Bank is warning.
In a speech to a retail conference this morning, Governor Adrian Orr said a number of factors are leading to changes in the currently “unsustainable” housing market.
He took some blame for low interest rates and the resulting housing market frenzy in recent times.
But he said the “tide is changing, supply is responding, population growth is no longer, it’s stagnating, and interest rates are on the rise”.
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