New Zealand is featured in the Economist magazine as the leading country in the developed world with the fastest rising house prices.
• The magazine said NZ house prices have climbed up 13% last year, & by 21% in houses worth more than $1 million – this trend may continue.
• Interest in NZ as a bolthole for wealthy foreigners had trebled since the November election of Donald Trump as US president, making foreign investment as a contributor to the prices.
• The Economist showed New Zealand leading on all measures, including against incomes, and against rents among major developed countries.
• Chief forecaster at Infometrics said NZ property is unaffordable or over-valued when you look at some of the measurements The economist uses.
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