Goldman Sachs: House prices in New Zealand appear the most over-valued

In a latest Goldman Sachs’ note on the assessment of G10 housing markets, house prices in New Zealand appear most at risk.

Key Points:

Report looks at housing markets in the G-10 countries

Finds they are most elevated in small, open economies such as New Zealand

There is about a 40% chance of a housing "bust" in New Zealand over the next two years

House prices in New Zealand appear the most over-valued, followed by Canada, Sweden, Australia and Norway