PHOTO: Auckland property market
Economist Cameron Bagrie says the property market in Australia is being closely watched for signs of similar movement in New Zealand.
Bagrie says: “We are watching closely what’s going on across the Tasman in regard to the Sydney property market, and Melbourne’s. We are starting to see early signs that Auckland’s starting to follow that lead, it’s probably a bit of a lite version at this stage.”
He says affordability is an issue in over-inflated markets around the world.
“If you step back and look at the bigger picture around the globe, you are starting to see the property market cool off in some other what you call over-inflated pretty hot areas, such as Vancouver and London. Affordability is a bigger issue,” Bagrie, from Bagrie Economics, told Corin Dann on the Q+A Business Podcast.
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