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ANZ Bank has stepped-up its attack on macro-prudential curbs on high risk mortgage lending, claiming that they have been a failure in New Zealand, forcing-up home prices at the lower end of the market. From The AFR:
The chief executive of New Zealand’s largest bank says limits on low-deposit home loans introduced by the country’s central bank a year ago have actually increased house prices at the lower end of the market and do not address the key driver of rising house prices – the lack of supply.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.