The Government and the Opposition are going into the last working day of the Parliamentary recess with the same debate dominating the landscape: housing.
House price inflation figures released on Friday by the Real Estate Institute (REINZ) showed just how hard the hard place has become for the Reserve Bank and the Government.
The boom in Auckland landlords hoovering up existing homes with borrowed money in Auckland and elsewhere ramped up in May, powering the biggest mortgage lending growth in any one month since March 2007, according to Reserve Bank figures issued yesterday.
For the convenience of subscribers, here's my weekly column in which I detail a scenario where a NZ$1.5 mln median house price is possible for Auckland by 2018 and set out five ways to stop that happening.
The fact that 46% of Auckland homes are now being sold to investors, as I highlighted from Core Logic in last Wednesday's email, is now dominating the political and conversation around housing.