Property values forecast to drop 12 percent

• New Zealand property values could drop by 12 percent in the next three years, economic forecasting agency Infometrics predicts.

There were several risks hanging over the economy, despite the economy being in good spirits, the agency said.

Those with mortgages on Auckland properties looked particularly vulnerable to likely interest rate rises, the organisation said.

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Infometrics says those with mortgages on Auckland properties look particularly vulnerable to interest rate rises. Photo: 123rf.com