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PHOTO: Ticking time bomb
For the first time in a decade, the Auckland property market is bleeding red.
You shouldn’t be surprised…we’ve been predicting this outcome for at least six months now..
But with the new year rolling around, real estate firms like Barfoot & Thompson are running the numbers…and finding that their sales have fallen short year-over-year.
They found that they sold 8% fewer properties in 2018. And of that, the median price was down 0.8%…which is the first time that’s happened since the Great Financial Crisis.
If you compared December 2017 versus December 2018, you’d find that 25% fewer homes sold last month over the year before.
Tick…tick…tick…the countdown timer on this time bomb is nearing zero…
READ MORE VIA MONEY MORNING
