New Zealand's on track for stronger economic growth but it could take a while to flow through to house prices. 

Westpac is forecasting New Zealand will outpace Australia's growth over the next few years. 

But New Zealand will still face a higher unemployment rate and lower wage growth, and the recovery's likely to be felt in some regions much sooner than others. 

Former Finance Minister Steven Joyce told Mike Hosking property will be the last sector to see a turnaround. 

He says New Zealand saw property prices go up 40% during the boom, compared to a 30% rise in Australia. 

Joyce says it’ll be an export-led recovery – something we haven't had for a while. 

He says with an export-led recovery, Auckland feels it later than other regions, which is what we're seeing now. 

LISTEN ABOVE 

New Zealand's on track for stronger economic growth but it could take a while to flow through to house prices.&nbsp;
Westpac is forecasting New Zealand will outpace Australia's growth over the next few years.&nbsp;
But New Zealand will still face a higher unemployment rate and lower wage growth, and the recovery's likely to be felt in some regions much sooner than others.&nbsp;
Former Finance Minister Steven Joyce told Mike Hosking property will be the last sector to see a turnaround.&nbsp;
He says New Zealand saw property prices go up 40% during the boom, compared to a 30% rise in Australia.&nbsp;
Joyce says it’ll be an export-led recovery – something we haven't had for a while.&nbsp;
He says with an export-led recovery, Auckland feels it later than other regions, which is what we're seeing now.&nbsp;
LISTEN ABOVE&nbsp;

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Steven Joyce: Former Finance Minister on the predicted economic growth for NZ

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/99c09639-6844-4f55-a1eb-b3450154d977/transcript