The housing market slump in Auckland may be spreading to the rest of New Zealand.
QV national spokesperson David Nagel says that 15 major cities monitored across New Zealand are “all showing signs of decline”.
This comes after a period of strong growth over the past 18 months.
However despite stating that “the juice is coming out of the provinces too”, Mr Nagel is still optimistic, citing the relative speed of growth in the provincial housing market compared to Auckland.
Mr Nagel points to uncertainty around the election result being a contributing factor in the market slowdown, but thinks we shouldn't overreact.
The bones of the market are still very strong
The AM Show with Duncan Garner this week joined by Ingrid Hipkiss and Melodie Robinson.