Recently, a story popped up on the landlord section of an online property investment forum. The story is an extreme version of what we view as the risks associated with property investing. It was exacerbated due to Covid-19, but it's illustrative, nonetheless.
Is property still the golden egg?
New Zealand's house prices have been ranked the most overvalued in the developed world behind only Hong Kong. The Kiwi housing market was also deemed to be the fifth most at-risk among OECD nations, according to an Oxford Economics report.
NZ and its ongoing property obsession
It's on TV; it's on the radio, it's in the newspapers and online. It seems everyone is buying it, making money from it or renovating it. The data providers have been pushing down the timing on their price indices from monthly to weekly to daily updates.
