Housing market slowdown

Posted June 26th, 2007 by Dr James Pratt

The risks of a sharp slowdown in the housing market are rising and the speed and size of any fall is the biggest uncertainty facing the economy, Arcus chief economist Rozanna Wozniak says.

The economy is expected to deteriorate, with the "worst yet to come", according to New Zealand company Arcus Investment Management, part of the AXA group.

Both the housing market and the Kiwi dollar were well over-valued and defying fundamental factors, Ms Wozniak said yesterday at a quarterly investment briefing in Wellington.

House prices have risen about 60 per cent in the past four years and a recent Westpac Bank report suggested the market was about 20 per cent over-valued for investors.

High inflation expectations had become entrenched in the housing market, with some investors thinking the market was "bullet proof".

Login or register to post comments

replica watchesreplica watches of Porsche design are quite famous, especially amongst the users who are fascinated by mechanical designs and sporty machinery. Those who are fond of the fast and furious rolex replica things have an immediate fondness for this kind of design and hence its replica watches are the fastest selling of all breitling replica. The design is basically an imitation of the complex designs we have in machinery of cars basically. It looks like a wild variation for a replica watches to have but the moment you look at the piece, you fall in love with it. The most conservative designs rolex replica have been imitated in these designs and people are going heads over heels over them. This is the reason why the elegant and functional breitling replica designs have created such a place for themselves in the market. The reputation of the fake replica watches of Porsche design is nothing less. One can expect some nice fabrication, clear face and legitimate designs in rolex replica. The prices of these replicas are much lower than the original but the craftsmanship is outstanding. One would never complain about any lacking feature, it is so original. But what remain the high points of Porsche design breitling replica is their elegance. They suit every hand and bring a classy aura to the person wearing it. And even after being so classy, you can still expect great functionality from these watches which is what people love about these replicas. There is a large variety available in these design watches. They will make you wonder how imaginative the manufacturer can be and how original even a fake time piece can be. replica watches watches are one of the most well known timepieces in the entire replica industry. The credit to their wide popularity goes to the originality of design that the craftsmen of the replica give to the timepiece rolex replica. You would be amazed to see that every tiny and basic detail is taken care of so well. It becomes very difficult to point out even a single mistake in it. The logo, the marks for hours and everything else possible is given its due importance in fabricating replica watches of Rolex. In fact, very few people can themselves make out the difference between an original and breitling replica; such is its imitation.