Rising rates could cool overheated property market - a podcast by RNZ

A much-anticipated rise in the Official Cash Rate yesterday could see the handbrake pulled on the country's house prices.
Yesterday's rise to 0.5 percent is the first in seven years - with the Reserve Bank signalling more is to come, and some retail banks reacted almost immediately lifting floating rates to match.
Barely existent rates have been blamed for soaring property prices, so will the upward trajectory start to cool things down?
CoreLogic's chief property economist Kelvin Davidson spoke to Corin Dann.

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