1 июл 2009 г. - National puts downward pressure on interest rates in response to GFC

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National put downward pressure on interest rates. That made expensive mortgages cheap and thus spurred house price growth. Interest rate reduction did little to stem job losses and business closures. But this had a major effect on house price inflation

Source: https://thepolicyobservatory.aut.ac.nz/__data/assets/pdf_file/0005/75083/168465_The-Mess-We-Are-In_Proof4_Digital_PRINT-VERSION-w-May.pdf

The “end result of lower interest rates… and a lack of central government investment in infrastructure was a near doubling in house prices.”

Source: https://thespinoff.co.nz/business/19-03-2021/bernard-hickeys-when-the-facts-change-a-cacophony-of-magical-thinking-on-housing

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