Liam Dann: Housing bubble springs a leak

  • Don’t panic, the housing bubble hasn’t popped. But it has released a bit of hot air.

The latest Quotable Value New Zealand statistics show Auckland house prices fell in the last quarter – a tiny, tiny bit.

It will provide cold comfort for would-be first home buyers. The madness of the past decade – which according to the latest QV estimates has seen Auckland prices rise 91 per cent – won’t be unwound in a hurry.

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The housing bubble hasn’t popped, but it’s looking a bit deflated. Photo / Nick Reed