Why Australia’s house price drop won’t happen here
*Watch the full interview in the video player above*
Kiwibank chief economist Jarrod Kerr explains why he thinks the big falls in Australian house prices won’t happen here.
Kerr says a combination of oversupply, withdrawal of foreign buyers and lower levels of lending by Australia’s banks after a Royal Commission into their misconduct has led to the price drops occurring in the major cities.
The same forces are not impacting the New Zealand property market.
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