Flattening the spike Economists and real estate agents agree that prices are not going to keep going up nationwide at the rate they have been recently. They will keep going up, but at more normal rates, they predict. The market may also ease in the short term as investors keep their powder dry while they digest recent Government changes for property investor taxes.
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One house for sale in Christchurch last December had so many people at its open home, the agent brought in an icecream van. Independent economist Tony Alexander said that the sense of ‘FOMO’ (fear of missing out) recently seen among buyers is starting to fade.
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