Sept 29 (Reuters) - Governor of the Reserve Bank of New Zealand's ( RBNZ ), Graeme Wheeler , has warned imbalances in the nation's property market posed a significant risk to financial stability. The central bank noted the heavy exposure banks have to housing with mortgages making up about 55% of their total assets and record levels of household debt at about 55% of household disposable income. RBNZ prices in Auckland have risen by 15% over last week and RBNZ price-to-income ratios in Auckland are among the highest in the world.
Governor of the Reserve Bank of New Zealand's ( RBNZ ), Graeme Wheeler , has warned imbalances in the nation's property market posed a significant risk to financial stability. The central bank noted the heavy exposure banks have to housing with mortgages making up about 55% of their total assets and record levels of household debt at about 55% of household disposable income. RBNZ prices in Auckland have risen by 15% over last week and RBNZ price-to-income ratios in Auckland are among the highest in the world.