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NZ: Property market at risk of ’sharp correction’

Posted on 01 March 2013

Financial ratings agency Standard & Poor’s says there is a significant risk of a property crash in New Zealand. S&P, which has come in for criticism over its failures to adequately assess risk on many investments in the run-up to the Global Financial Crisis, said its “base case scenario” was for medium-term real estate prices continuing to stabilise at current levels.
But credit analyst Nico DeLange said: “We are of the opinion that a significant risk remains of a sharp correction in property prices occurring given the uncertain short-to medium term outlook for the global economy.”……………………………………….Full Article: Source


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