Sunday, Jun 24, 2007
WITH DEFICIT AT 10% OF GDP ??? SOMETHING HAS TO GIVE
Stuff.co.nz: Auckland house prices overtake Australia's big cities'
Auckland's median of NZ$450,000 ranks ahead of Canberra on A$395,000 (NZ$436,000), Melbourne on A$380,000, and Brisbane on A$345,000
Posted by out of control speculators @ 11:46 PM (202 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Squirrell said...
and what this article neglects to mention is that NZ has the highest interest rates going, almost a full 2% points higher than Aus. When taking this into account NZ is the most unaffordable nation on earth. And this in a country with a population density <10% of most countries. The NZ housing market is poked and fingers crossed will crash soon. NZ's 10% current account defcicit is almost solely down to mortgage interest payments to foreign owned banks - we were all told 20 years ago that financial deregulation was good for the country ... well maybe for the bankers across the Tasman who are creaming it based on our collective stupidity. If you think England is bad, reconsider. Auckland and Wellington have rental yields of 3%, and mortgage rates of 9.5% ... and still people justify it. The govt is finally pulling finger and considering getting rid of tax write offs for rental property which would really send the market into free fall. Here's hoping!!