Some hope for home buyers - 2004-01-20
Higher costs of building a house or acquiring one outstripped anything else in New Zealand last year.
While the overall rate of inflation for the year was 1.6%, the cost of buying or building a house rose 8.5% according to the latest figures from Statistics New Zealand.
Already the housing market there is reported to have softened and Australian banks say most of their loan business in the past few months has been home owners rushing to fix their mortgages.
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