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House prices have fallen below a fair price that investors should be willing to pay - the first time this has happened since late 2006 - says the Westpac Bank.
Westpac economist Doug Steel told an Auckland regional job summit yesterday that house prices were now "around fair value" based on rents, interest rates and other costs.
"The negative sentiment towards housing is overblown," he said.
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Jenny
Westpac economist Doug Steel told an Auckland regional job summit yesterday that house prices were now "around fair value" based on rents, interest rates and other costs.
"The negative sentiment towards housing is overblown," he said.
Read more...
Jenny