The last few years in the share market have been big for property, thanks largely to the continuing surge in the Auckland market which shows no sign of stopping.
Many new companies, such as Metropolis Property Management Auckland, are taking advantage of the continuing climate. But how long can the party last? Is Auckland, as some suspect, actually in a bubble?
It's tough to say. It's true that the NZ property market never suffered a severe housing market correction the way countries like Spain and Ireland did during the GFC, despite similar expansions in housing lending. We got off light in many ways. But that's not to say we're still in for a crash - perhaps more of a levelling off is to be expected. The big question remains how much higher and faster the market can rise before that turn comes.read more