Indications that New Zealand property prices appear to be stabilising may mean buyers have missed the chance to make a lucrative investment, says a real estate expert.
A report from the country’s Real Estate Institute found that changes in prices and purchasing activity levels were minimal in August compared to previous months.
However, the group warned that any interpretation of the figures should be "cautious".
Responding to the news, Dan Johnson, director of property advice website t TheMoveChannel.com, said this may mean buyers will be too late to get a good return on their investment.
He explained that stability is not necessarily good news for investors: "If a country has slid beyond the point where it naturally should have done, because it has been resilient and protected, perhaps the time to be moving your money was actually at the outset of the economic downturn."
His comments follow the release of research by estate agent Knight Frank, which found that property prices had increased in almost half of the countries it surveyed.
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