Posts From King World News

New Zealand bank moves to cool Auckland property market

New Zealand’s central bank on Wednesday announced measures to cool Auckland’s red-hot property market, saying a potential real-estate bubble posed a significant risk to the economy. House prices in the South Pacific nation’s largest city have skyrocketed in recent years, resulting in Auckland being named as the world’s ninth least affordable major city in an international survey released this year. Reserve Bank of New Zealand Governor Graeme Wheeler said the