Governor of the Reserve Bank of New Zealand 's ( RB ) , Graeme Wheeler , has warned imbalances in the country 's housing market posed a significant risk to financial stability . The central bank noted that banks are heavily exposed to housing, with mortgages making up about 55 percent of their total assets. The central bank noted the heavy debt households have to housing with mortgages making up about 80 % of their total assets and record levels of household debt at 163 % of household disposable income . House prices in New Zealand have risen by 30 % over the past year and house price - to - income ratios in Auckland are among the highest in the world .
Governor of the Reserve Bank of New Zealand 's ( RB ) , Graeme Wheeler , has warned imbalances in the country 's housing market posed a significant risk to financial stability . The central bank noted the heavy debt households have to housing with mortgages making up about 80 % of their total assets and record levels of household debt at 163 % of household disposable income . House prices in New Zealand have risen by 30 % over the past year and house price - to - income ratios in Auckland are among the highest in the world .