Economists say tighter credit conditions, higher mortgage rates and increased housing supply behind sinking prices New Zealand's house prices are on track to drop by up to 20% in the next year - the biggest drop since the 1970s - two of the biggest banks have predicted, which would take prices back to where they were just over a year ago. For years, the country has been plagued by a runaway housing market. The cities of Wellington and Auckland have some of the least affordable property markets i...
Economists say tighter credit conditions, higher mortgage rates and increased housing supply behind sinking prices New Zealand's house prices are on track to drop by up to 20% in the next year - the biggest drop since the 1970s - two of the biggest banks have predicted, which would take prices back to where they were just over a year ago. For years, the country has been plagued by a runaway housing market. The cities of Wellington and Auckland have some of the least affordable property markets i...
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