Warning from NZ

"Sunshine Coast Remax real estate agent Michael Knights said the local housing market had dropped between 10% and 20% in the last 12 months, and the apartment market had been the hardest hit.

``A lot of the apartments that have been bought off the plans say 18 months to two years ago are selling for $100,000 to $200,000 less than people paid for them because there's just an oversupply."

See www.stuff.co.nz/4861361a20975.html