Photo: Guy WilliamsForecasts for the Queenstown housing market are mixed, one veteran property developer predicting the worst economic downturn in his lifetime. Mr Broomfield suggested a difficult 12-18 months for homeowners, including a "second wave of adjustment" once Government support and mortgage holidays expired. Mr Pullar disagreed, claiming mortgagee sales should be a "rarity" provided loan-holders sought advice early. These changes, combined with lower interest rates than at the time of the Global Financial Crisis, equated to a "greater buffer for adversity", Mr Pullar said. Mr Broomfield and Mr Pullar agreed there was potentially good news for renters.

Source: Otago Daily Times May 03, 2020 16:30 UTC