A New York-style penthouse in the venerable Guardian Trust building on Queen St is on the market for about $5 million, as its owners switch tack and head to Australia.
Economists aren't sure what will happen to house prices because of the government's housing package but Westpac has put a number on it: a fall of 10% long term but it may be much worse in the short term.
And third party lenders Waimauri and Chao Meng Chen could be out of pocket $47.7 million.
If councils want the new money for housing land development, they will have to get on board first with central government's desire for urban intensification.
Infrastructure Editor
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articles by Oliver