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A report published by Goldman Sachs predicted that New Zealand had a 40% chance of a "housing bust" over the same period. [114] Financial commentator Bernard Hickey described New Zealand's property market in 2014 as "too big to fail", and supports a deposit insurance scheme in the event of a banking collapse caused by a property crash. [115]
US house price trend (1998–2008) as measured by the Case–Shiller index Ratio of Melbourne median house prices to Australian annual wages, 1965 to 2010. As with all types of economic bubbles, disagreement exists over whether or not a real estate bubble can be identified or predicted, then perhaps prevented.
After the New Zealand sharemarket crash on 20 October 1987, the Chase Corp share price continued to drop and it effectively never recovered from that point, as the New Zealand property market collapsed. On 4 July 1989, the NZ Government appointed statutory managers to run the NZ property interests of Chase Corp.
When records began in 1974, new homes in New Zealand had an average floor area of 120 m 2 (1,290 sq ft). Average new home sizes rose to peak at 200 m 2 (2,150 sq ft) in 2010, before falling to 158 m 2 (1,700 sq ft) in 2019. [17] In 1966 the New Zealand Encyclopedia recognised seven basic designs of New Zealand houses. [18]
The 2007–2008 financial crisis had a flow on effect in the New Zealand economy causing a downturn in the property market and precipitating a credit crunch. These macro-economic factors and subsequent "run on the funds" sparked the collapse of most of the finance companies; Credit began to tighten in the market and loan defaults became more ...
The major capital market is the New Zealand Exchange (NZX). As of February 2023, NZX had a total of 338 listed securities, equity, debt and funds with a combined market capitalisation of NZD $226 billion. [30] New Zealand's currency, the New Zealand dollar, also circulates in four Pacific Island territories. The New Zealand dollar is the 10th ...
At the time of its failure it was the largest finance company in New Zealand. The Hanover Group [1] also had interests in property and was responsible for developing Matarangi Beach Estates and golf course, and acquired completed lots at the Jacks Point property sub-division [2] in Queenstown. The Group also had property and finance interests ...
Mainzeal Property and Construction Ltd was one of the largest New Zealand property and construction companies [1] until being placed into receivership on 6 February 2013 and then being placed into liquidation on 28 February 2013. [2] According to its website, Mainzeal was involved in delivering $7.5 billion of construction projects across New ...