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
23 August 2021
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.
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