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New Zealand housing crashes into 2023 as recession beckons

September 30, 2022 - 14:00 -- Admin

ANZ’s latest NZ Property Focus report reaffirmed the bank’s forecast that the Reserve Bank will lift the official cash rate (OCR) to 4.75% by mid-2023: This increase in the OCR and mortgage rates will impact around 56% of New Zealand borrowers, given 56% are either on floating or fixed rates of less than one year.

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