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Government policies to expand housing supply may take more than two years to allay concerns of housing affordability, Reserve Bank governor Michele Bullock said.
“I’ve said a number of times before, the problem in the housing market is a structural deficit of supply. That is the problem. Governments now get that, and you are seeing some action on that, but it’s going to be slow to work its way through,” Bullock told media after the central bank’s decision to hold interest rates.
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