"With historically low levels of new building and net migration (while not at strong levels) likely to be more supportive of Auckland housing demand than other parts of the country, we suspect demographic pressures are slowly beginning to surface. This is also shown by increases in average rents, which at $434 per week is also a new record high."

Borkin said that given the housing market's properties as a good "leading indicator" in NZ, and the Auckland region being "the consumer juggernaut" that it is, this may signal the beginnings of an improvement in the consumer spending backdrop.

"We think it is too early to make a call on this yet given that household behaviour remains one of caution and deleveraging, but we are watching closely."

Borkin said that evidence was gradually beginning to mount "that a more robust recovery is around the corner and this will eventually warrant tighter monetary conditions. We continue to feel this is more an early 2012 story".


A 回答 (1件)





「より強い回復がすぐそこまで来ていると言う証拠が増え始めている、そして、結局これがより逼迫した金融状況を正当化するだろう。 我々は、これがより2012年前半の物語(景気予測)であると感じ続けている」とボーキンは述べました。
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