Mike Hosking nails it points out the only reason house prices are high is cheap money.

He says a lot of other stuff which may or may not be right. He points out real estate has never been in a bubble and never crashed. The USA and Ireland might disagree but that was over a decade ago. behind the pay wall sorry.

https://www.nzherald.co.nz/nz/mike-h...UVNBECDDPWBVE/

So if you are worried about inflation in house and asset prices you need to raise interest rates pure and simple.

A 30 year trend of lower and lower interest rates would need to change so I guess the only debate is will it happen.

I would suggest not.