Yes mate but will we be here to see it in 20 years ?
Property Developer sees the market cooling.
http://www.stuff.co.nz/business/indu...day:dailybrief
Vaygor1 - I think the Reserve Bank are determined to cool the property market down and the market is starting to ask have we hit a peak with house prices and if so what does that mean that in the long run ? Are these Retirement village operators going to face declining profit margins on resale in the medium term ?
The market has had an exceptional run in Auckland. Are you coming back to N.Z. ?
Certainly if you look at it from an issue of affordability with the average house price in Auckland now ~ $700,000 you'd have to wonder. You've only got to get the slightest doubt on future growth on a PE of 35 and the market can correct quickly.
We're already down about 7-8% in Rym and SUM in the last 3 months.