Property Boom Shows Signs Of Easing
There are fresh warning signs the property market could be about to come off the boil.
It became harder to buy a house in the three months to December.
A quarterly survey by AMP shows homes were almost six percent less affordable, as rising prices outstripped any increase in salary.
AMP says the outlook for housing this year is uncertain, despite low interest rates.
financial Services Managing Director Ross Kent says there are plenty of warning signs that the current boom will soon end.
He points to possible higher mortgage rates, along with slowing immigration growth and more houses being built to meet demand.
There are also indications that rental yields are beginning to slip.
The drive in construction caused by the booming housing market was a factor in slightly higher-than-expected fourth quarter inflation data released earlier this week.
PROPERTY R COMING DOWN 2 NORMAL PRICE WITH IN FEW MONTHS.
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