In any case, it will need to continue to monitor evolving circumstances closely, and adjust the stance of monetary policy as appropriate, in order to help establish conditions consistent with progress towards the Federal Reserve’s goals of price stability and maximum sustainable economic growth.
The role of non-resident investors in the Auckland market will become more apparent once the new requirements for purchasers to provide tax numbers are introduced in October. The supply response Currently, new dwellings are being built at a rate of around 8,300 per annum in Auckland.