House prices are being picked to continue to rise for the
year and flagging sales numbers get a boost, before hitting a
''pervasive slowdown'' in 2015, according to Westpac
economist Dominick Stephens.
Housing has emerged as the largest issue to date in the
election, which is still five months away. Housing Minister
Nick Smith was in Christchurch this week with further
announcements for the earthquake-damaged city. Business
editor Dene Mackenzie reviews the announcements so far.
Labour's policy of restricting non-residents from buying
property would have serious legal, economic and political
ramifications because of New Zealand's free-trade agreement
with China, lawyer Stephen Franks said yesterday.
There are some Arrowtown residents who fundamentally oppose
an affordable housing development in the small village, but
others who made submissions against a housing proposal are
being offered a compromise.