Squirrel warns of Auckland house price correction risks in fundraising

Tue, 15 Mar 2016

By Fiona Rotherham March 16 (BusinessDesk) - Squirrel Group, the mortgage broker and peer-to-peer lender, cites an Auckland housing market correction that could significantly slow sales as a risk to its $4.97 million private equity crowdfunding offer currently underway. It quantified the risk by citing the city's experience during the global financial crisis when sales volumes dropped to 1,500 per month during 2008. That's 50 percent lower than housing turnover in 2015. Squirrel Mortgages has a target of arranging more than $1 billion...

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