The Government has told the Reserve Bank to take house prices into account when considering monetary policy. New Zealand’s growing house prices are helping propel the population to among the wealthiest in the world, a new report shows. READ MORE:* Affordability crunch: Will house prices hit a limit? * Westpac forecasts unemployment will climb by 200,000* Data shows there are 185,000 New Zealanders who've hit international 'millionaire' statusIn New Zealand in 2015, there were 158,782 people with net wealth of more than US$1m. ANZ chief economist Sharon Zollner said house prices were a big driver of New Zealanders’ wealth because property was a favoured asset class for many people.

Source: Stuff February 25, 2021 21:22 UTC