House prices are dropping and getting worse by the month - Developer I know very well is being offered development land and sections at ever cheaper prices as the squeeze intensifies.
And even as I wrote the above, this alert flashed across my mobile -
https://www.nzherald.co.nz/business/...ectid=12257989
"Mid-winter is hitting the housing market with national and Auckland prices down, according to the latest Real Estate Institute data for July."
And this is only the first year start of the leg of a typical 5 year down cycle.
As for going over to Australia where the property market is in free fall, a big red flag if ever I see one!