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17 Oct 2021 10:44
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  •   Home > News > Business

    Covid-19 has played a role in housing debt hitting an all-time high

    Covid-19 has played a role in housing debt hitting an all-time high


    Official figures show in the two years between June 2019 and June this year, the country's housing debt rose 19-percent to 317.6 billion dollars, most in the past year.

    CoreLogic Chief Economist Kelvin Davidson says low mortgage interest rates have been a big driver.

    He says since changes were put in place by the Reserve Bank last year, people can afford to pay more and the bank is happy to lend more.

    © 2021 Newstalk ZB, NZCity

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