REINZ HOUSE SALES: NEUTRAL Housing turnover has slowed but that should not necessarily be taken as a sign that house prices may follow. The likely cause is a listings shortage. INTEREST RATES: UP Interest rates have started to move up but are still low. OCR: UP Still on hold, the OCR is unlinkely to move […]
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News of the week has clearly been Fonterra’s dirty pipe in processing their whey back in May last year and the global fall out from this recall. The on flowing damage to New Zealand’s “clean and green” image is clear, and will take some time for us to regain confidence in the market. Further news […]
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The NZ Herald (Monday 4th June) printed significant data and statistics which reveals that Auckland property boom is causing a widening gap from the rest of the country. They go on to state that many provincial towns have not fully recovered from the national housing boom in 2007, before the global financial crisis hit. This […]
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Don’t wait for spring, because you will be competing with many other sellers who are also waiting to bring their property onto the market. List your property ‘now’ when the stock of unsold homes on the market tightened to an all-time low of 25 weeks, based on the rate of sales, well down on the […]
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In Australia the whole mood is one of woe is us. Informed commentators are writing articles about appalling fiscal mismanagement involving continually soaring spending and overly optimistic assumptions about revenue, poor productivity growth previously covered by the boom but now revealed as a major structural weakness, and chooks coming home to roost for a protected […]
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Across New Zealand, 11 regions reported asking price increases from April, most significant Manawatu/ Wanganui region up 11.9%. Other areas with increases were Northland, Coromandel, Wellington, Nelson, Otago and Southland. Most regions saw a decline in listings coming to the market compared to last year, with the exceptions of the Central North Island. [Data: NZ […]
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In May the level rose in properties coming onto the market by 5.9%, however it is still down by 7.2% on last year. In the last 12 months, 131,053 new listings have come onto the market up 1%, REINZ reports sales up 17% on the same 12 month comparison. The inventory of unsold houses on […]
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Seasonally truncated mean asking price rose 4.3% from May 2012. For those of you interested in statistics, there has been a lot written recently regarding the accuracy of the mean pricing as a true indication as to the state of the housing market and prices. A truncated mean is considered a more accurate measure than […]
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The message is loud and clear buyers are still out there and very keen to have a home. The lack of supply and high asking prices continues to drive seller’s expectations and confidence when selling. This rise in asking price is now not isolated to Auckland and Christchurch, which to be honest we had become […]
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1. Record House Prices- in May $454K 2. Historic Low Interest rates 3. Official Cash Rate (OCR)- Not expected to rise until next year 4. Mortgage Approvals – Bank approvals are up 13% on same time last year 5. Immigration neutral – Fewer Kiwis leaving for Australia 6. Building Consent – Increased strength in construction […]
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