Auckland-based buyers could be artificially inflating NZ housing market

  • Regional New Zealand is being warned to keep a wary eye on house prices to make sure they do not get out of step with what their local economies can sustain.

ASB’s latest Housing Confidence Survey shows house price expectations for the North Island, outside Auckland, are near record highs as the “halo effect” of the country’s biggest city’s prices gains momentum.

A net 61 per cent of respondents expected North Island house prices outside Auckland would increase over the next year, compared to 39 per cent for Auckland.

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Auckland-based property investors have flocked into areas such as Hamilton and Whangarei.

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