NZ housing bubble returns with a vengence

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The REINZ has released its house price data for February, which revealed a 4.1% increase in median values over the month, with values nationally surging by 14.3% year-on-year to another record high:

The summary breakdown shown below:

Outside of Auckland, median house prices rose by 4.8% in February, with prices up 11.8% year-on-year.

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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.