Monday, Jan 15, 2007
New Zealand Bubble
New Zealand Herald: NZ homes at their least affordable in 18 years
Don't know if we have covered New Zealand before but here is another article reflecting such global property trends. Will the much forcast impending downturn turn into a global phenomenon of Wall Street crash proportions.
Posted by enuii @ 08:31 PM (165 views) Add Comment
3 Comments
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1. tyrellcorporation said...
Mad HPI in New Zealand is absurd. There's hardly anyone living there, it's one of the remotest places on Earth and it's very easy to buy some land and build a house. If anything shows there is a global housing market bubble it's New Zealand.
2. David20040_0 said...
This is rubbish the population of New Zealand is 4,151,600. They have masses of land they can build themselves out of the problem but as I keep saying we in the UK and especially England, can't.
3. Nohpc said...
I am out here in New Zealand just now as well and I don't understand house prices. You drive past open air shops that basically sell houses that you can take away for virtually nothing and plonk on a piece of land of which there is plenty with virtually no restrictions yet people are paying soooo much money for sub standard property.
It is not similar to the UK over here it is much worse. Also over here everybody says property only ever goes up in value. I know you lot say you have heard this in the UK but I have never heard anyone actually say it before I came here.