- Think Auckland’s housing market is overheated? Try China.
Consultancy Knight Frank, which keeps an index of housing markets across 150 cities, has found that the Chinese technology hub of Shenzhen was the hottest housing market in the first quarter of this year.
Shenzhen’s “phenomenal” house prices climbed 63 per cent in the year to March, although this was expected to slow down as new mortgage rules and longer residency requirements for non-local buyers got underway.
Auckland, which had been in second place behind Shenzhen, slipped to 8th place.