PHOTO: New homeowners who bought in Sydney or Melbourne a year ago with 10 per cent deposits have already seen all their equity wiped out, with further falls expected. (File photo)
The New Zealand property market has enjoyed a wild ride over the last decade.
It’s hard to talk sensibly about the ins and outs of buying a house when prices are only ever going in one direction. Shut up and take my money!
While it’s been one heck of a good run, the main hotspots are coming off the boil. The Reserve Bank expects historically low levels of house price inflation for the next few years. Hopefully we have a ‘soft landing’, and don’t follow Australia into a sharper correction.
As the dollar signs fade from our eyes, let’s take a more sober look at whether buying a home is actually a good idea.
READ MORE VIA STUFF