Interest rate rises expected this week will dampen the demand for housing and could signal the end of Auckland's housing boom, according to economist, Rodney Dickens.
Auckland house prices have increased almost 30 per cent since the last peak in 2007, but Mr Dickens warns that the rises will not continue indefinitely and there is a risk prices will soon start falling.
Mr Dickens said the Auckland housing market is more prone to booms and busts.
Interest rate rises expected this week will dampen the demand for housing and could signal the end of Auckland’s housing boom, according to economist, Rodney Dickens.
Auckland house prices have increased almost 30 per cent since the last peak in 2007, but Mr Dickens warns that the rises will not continue indefinitely and there is a risk prices will soon start falling.
Mr Dickens said the Auckland housing market is more prone to booms and busts.
