编者的话

高小姐 Pauline Gao

又是提笔和大家分享这一年得失的时候，忙碌、奔走和追逐的心情却仿佛已经渐远。取而代之的是一份平静，对待生活和工作的从容。

也许岁月真的是主宰一切的霸主，它让各种冗杂和琐碎都化为模糊的影像从脑海中逝去。

2017年，希望我们都可以在这个注定更加精彩的世界，安然自得，悦世而居！

马克 Mark Graham

In our last issue we talked of New Zealand's housing market being in an interesting position. It still is.

Regional areas are now enjoying high rates of growth as Aucklanders continue to move out and investors look for better yields outside of Auckland.

Auckland is at historically high 'value to income' rates - many say unsustainable - and there are people saying the market is in for a correction sometime in the next 1-3 years.

Additional laws put in place around the 'loan to value' ratio - meaning buyers needed a minimum level of deposit to purchase a home, in an attempt to take the investor market out of action, and have worked in the second half of 2016, but there is speculation that it is temporary and prices will again start to climb through 2017.

Forecasters have identified risk around the apartment market, as a large number of projects come on stream as the market in Vancouver, Sydney and Melbourne.

So, at some stage in coming years there will be a correction. This has been the pattern for many years after periods of growth, but the shortage of housing in Auckland remains historically high, too, immigration levels are also high which means increasing demand，so there is still the continued economic drivers of high demand and shortage of supply which leads to increase in values - so most commentators are throwing their hands in the air and saying they just don't know what's going to happen. What this means is that even with a correction, the long term prediction is that house prices in Auckland will continue and upward climb.