It’s interesting when you take the scale of our property market here inNew Zealandand compare it to the US.

US Home buyers signed contracts for 29,000 homes in March 2011, an 11-percent increase from the month before but down from 36,000 in March 2010. In March 2005, at the peak of the housing boom, buyers put down money for 127,000 houses.

NZ Home buyers signed contracts for 5,848 dwellings in March 2011, a 30- percent increase from the month before but down from 6,161 in March 2010. In March 2005, at the peak of the housing boom, buyers put down money for 10,406 dwellings.

Data Source: REINZ & New York Times.