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Economy

New Zealand home prices prompt calls for immigration cut

WELLINGTON -- Soaring house prices in Auckland, New Zealand's largest city, are prompting growing calls for cuts in immigration, which is running at record levels.

It is not only politicians and commentators that are talking about cutting the number of immigrants -- even the central bank has joined the chorus, alongside one of the country's largest commercial banks. As a result, immigration is likely to be a hot issue ahead of next year's national elections, when a populist political party with a history of anti-immigration rhetoric could grab the balance of power.

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