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House prices are going ballistic

25 April 2021  |  Investment News

One obsession unites the rich world: housing. In the past year billions of people have been cooped up inside their homes for hours on end. As restrictions have eased, house prices have started to go through the roof. In America prices increased by 11% in the year to January, their fastest pace in 15 years. In New Zealand prices are up by 22%. Among the 25 countries that The Economist tracks, real house prices rose by 5% on average in the latest 12-month period, the quickest in over a decade.

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