n one neighbourhood, the first metric was the letterbox: a thickening sheath of “For Sale” advertisements clogging up the mail. “Almost daily junk mail advertising houses for sale,” said Greg, who lives in the central North Island city of New Plymouth. Then he noticed things changing on the street. “Every house on our road that has sold since we moved in three years ago has sold within a week,” he said.
since the aftermath of the global financial crisis. Some banks are predicting a 10% fall over the course of 2022.to share how they were experiencing drops in the market, and found a mixture of trepidation, relief and hope. For some, it’s the first glimpse of a chance at owning a property. “My partner and I believe the drop in prices mean we might be able to purchase a house this year,” said Shayna,* an IT worker in Wellington. “We’re going to wait a few more months to see if it drops slightly more. We’re lucky to be in the fortunate position of having an above average, double income and potential help from parents – I think we would really struggle if it weren’t for these factors, but we’ll see what happens.
That means many new buyers are concerned about stretching beyond their means – and some who bought when the market was at its peak may find themselves in trouble.
god knows where the money flows to next now that the housing market has tapped out ,energy no doubt the new frontier for vast amounts of new money to be made out of electrons their production and sale ,massive massive market unquenchable demand ,at a price