- Wellington’s housing bubble has deflated as lending restrictions and election jitters combine with the traditional winter sales slump to trigger a drop in buyer demand.
The figures come a week after investment bank Goldman Sachs said in a report there was a 40 per cent chance New Zealand would suffer a housing market “bust” in the next two years.
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ROBERT KITCHIN/FAIRFAX NZ
Buyer demand in Wellington city’s market has sagged to pre-property boom levels as winter and the general election looms.