PM says property crash unlikely

Stuff reports that despite recent figures from REINZ pointing to a down-turn in the New Zealand property market, the PM says this contradicts the advice to her from Treasury briefing papers.

Propery sales were at their lowest point for seven years last month, and days to sell have climbed over the 50-day mark, and the median price has dropped $5 000 in the last month.

Helen Clark is saying a fall of 30%, as some are picking, is very, very unlikely.

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