WELLINGTON, NEW ZEALAND-The property market in New Zealand hasdeclined 5.5% since reaching record highs in 2007, according to aWellington appraisal company known as Quotable Value.
According to the report, prices in New Zealand increased 1.1%and increased 3% in Auckland when compared to that of the sameperiod last year. Many of the international buyers of New Zealandproperty were from Britain. Parties from Canada, United States,Korea and China were also major buyers of real estate in NewZealand. For the full story, go to New York Times.
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