In response to this Stuff.co.nz article... (clickety here)
Aucklands downtown apartment industry was a primary focus for greed and overdevelopment up to about 2 years ago. You could see the bubble starting to burst in 2006/07 but now it seems the sector is in complete freefall.
I believe this was a primary driver in the storm that has swept through the Property Sector and has now been overtaken by the Global Credit Crunch.
Aucklands downtown apartment industry was a primary focus for greed and overdevelopment up to about 2 years ago. You could see the bubble starting to burst in 2006/07 but now it seems the sector is in complete freefall.
I believe this was a primary driver in the storm that has swept through the Property Sector and has now been overtaken by the Global Credit Crunch.
Once this "correction" is complete we may start seeing the light at the end of the tunnel in NZ- I think this is the image of the property downturn bottoming out.
At least I certainly hope it is!
At least I certainly hope it is!
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