Core Logic’s Jonno Ingerson appeared on New Zealand’s Q+A program on Sunday and labelled Auckland’s speculator activity as “scary” after the share of property sales going to investors in Auckland rose from 40% to 46% between January and May this year. From Interest.co.nz:
“…you’ve got this activity happening in Auckland of people buying and selling property really quickly. Why? Well, it’s not just investors. There’s all sorts of people that go, ‘Because the market is increasing, I can make some money off it. I can move around in it.’ It becomes self-perpetuating. That’s the bit that as an economist looking at this you’d say, ‘That’s the bit I’m worried about, that speculation.’”
