Housing market pressures are growing Between 2000 and 2007 house prices in New Zealand more than doubled, and household indebtedness increased from 100 to 150 percent of household disposable income.
Of course, a good deal of uncertainty still surrounds the budget outcome for the year as a whole. Federal government outlays in fiscal 2006 were 20.3 percent of nominal gross domestic product (GDP), receipts were 18.4 percent of GDP, and the deficit (equal to the difference of the two) was 1.9 percent of GDP. These percentages are close to their averages since 1960.