Brexit, Trump, earthquakes, new PM & new election, mixed with good economic fundamentals, make the market uncertain.
• The market had already shown signs of unease, with tighter lending restrictions & holidays putting growth on hold.
• Auckland’s stellar annual growth had slowed from 24.4% to 12.8% in December.
• Moreover, the pace of growth in Wellington & other cities had stalled, though they had been playing catch-up in 2016.
• ASB senior economist said while 2016 was marred by economic disappointment, 2017 may be full of promise for NZ’s economy.
• Looking ahead for the housing market, Goodall said there remained a feeling of “surely this can’t go on forever?”.