We expect house prices to unwind in an orderly manner in the coming year despite prices and transactions soaring in recent months, she said. We anticipate that credit losses at New Zealand banks will remain relatively low at about 0.30 per cent of gross loans and advances over the next two years.
Barrett said the banking system s reliance on overseas markets for finance left it vulnerable to periods of economic, financial or liquidity distress, such as a sudden drop in house prices. The New Zealand banking system s relatively low level of customer deposits and its sizeable dependence on net external borrowings remain key ratings weaknesses compared with other banking systems.
Decrepit slum dubbed the worst ever is the only house under $900,000 left in inner Sydney
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Citi puts Australian retail bank up for sale
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