property boom over back to 2000 prices, page-14

http://www.stuff.co.nz/4576772a11.html

On Thursday, Reserve Bank governor Alan Bollard predicted house prices would fall 13% over the next three years - but once inflation was taken into account, the drop would be closer to 22%. Two major banks dropped their fixed mortgage rates almost immediately.

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auckland down 15% already.

http://youtube.com/watch?v=QHGg4U-XkjY&feature=related

http://youtube.com/watch?v=usPmzqMqwTM&feature=related

links to a recent report on NZ tv about real estate in NZ