Housing market has slowed dramatically

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The last two months have seen a significant slowdown in the property market,
across the country. Yes, we are now experiencing the chill of winter, but
this is more than just that.

The first evidence comes from our measure of buyer demand. There was a surge in activity during late February and early March, which is normal for that time of year, and usually carries through until Easter.

However, this year, the demand started to dive three weeks before Easter.

With Easter and Anzac falling on consecutive weekends we expected activity to drop over those two weeks. And, indeed it did.

But since then, demand hasn’t rebounded as much as normal. Year-on-year demand is much lower in Auckland and across the rest of the country is more or less flat.  Read more:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11868375