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CSR says it believes Australia's housing market is recovering, after posting a $147 million loss.
Owner-occupier home loan approvals have posted the strongest jump in four years.
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Banks are now pumping $3 billion more into the housing market per month than they were a year ago.
Pressure in the housing market is posing a growing risk to NZ's financial stability, the Reserve Bank warns.
The Federal government will pump $1billion into affordable rental housing to boost stocks by 10,000 homes.
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