Economists estimate 500-million dollars' damage has been caused by floods in Auckland
Economists estimate 500-million dollars' damage has been caused by floods in Auckland
8 February 2023
Westpac Chief Economist Satish Ranchhod says it will have short term effects on the price of food, rent and insurance in the city.
He says there will be some who are underinsured and not insured at all.
Ranchhod says it will stretch our already straining building market.
He says usual construction work could be crowded out by repairs like they were following the Canterbury quakes.
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