- Conditions are right for a property price drop, but so far values are holding stubbornly firm.
Usually, for prices to stall, you need a change in the supply and demand equation. That means fewer buyers or more properties to choose from, lessening competition.
The latest Real Estate Institute figures show that scenario is playing out, in Auckland in particular.
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JOHN BISSET/FAIRFAX NZ
Real Estate Institute chief executive Bindi Norwell says house prices are surprisingly solid.