Is New Zealand’s property bubble ready to burst?

 

PHOTO: Housing Bubble

It’s now a decade since the Global Financial Crisis (GFC). The 2008 financial crisis is considered by many to be the worst recession since the Great Depression of the 1930s.

It spawned from the subprime mortgage crisis in the USA – a nationwide banking emergency triggered by a rapid rise then dramatic decline in house prices.

Since the GFC, Auckland property prices have more than double to $850,000 and Wellington prices have climbed $200,000 to $620,000.

 

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