READER REPORT:

Can you fix the economy? Change the rates

BILL DOLAND
Last updated 05:00 07/02/2013
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LIZ MCDONALD / Fairfax NZ

ON THE RISE: Should Aucklanders pay higher mortgage interest rates than the rest of New Zealand?

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It's time for regional mortgage interest rate rises in New Zealand. In particular, the Auckland market should be paying a higher rate than other regions to help curb the city's out of control housing market.

The rest of the country shouldn't be held ransom to speculative and immigration-driven higher house prices.

The model has already been established as banks have proven a geographical lending model based on local lending when they assisted in lower interest rate loans for Christchurch as part of the Canterbury earthquake recovery programme.

Have you got an idea on how to fix New Zealand's economy? Contribute to this assignment and tell us how.


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