No crisis in Australia's housing market; NZ prices seen stable to lower: Nikko

No crisis in Australia's housing market; NZ prices seen stable to lower: Nikko
Jenny Ruth
By Jenny Ruth Jan. 11 (BusinessDesk) - House prices in Australia, particularly in Sydney and Melbourne, are falling sharply and may have further to fall but this is by no means a crisis, according to Chris Rands, a portfolio manager with Nikko Asset Management in Sydney. Even if there was a crisis in Australia, his colleague, Fergus McDonald, Nikko’s head of fixed interest in New Zealand, says it would be wrong to expect similar price falls in our housing markets. Sydney house prices are approaching a 10 percent drop from their 2017 pe...