NZ: Record house price inflation - TDS

Research Team at TDS, suggests that after seeing the June REINZ housing report, where even the most remote hobbit-filled regions are experiencing record house price inflation, the RBNZ cannot in good faith deliver a cut next month without offsetting fresh macro prudential tools. 

Key Quotes

“And we know from the Spencer speech that these are unlikely to appear even by year end. National median prices were up 11%/yr to NZ$500k. Auckland prices rose another 2%/m, +8.7%/yr.”