colinrealestate

Asking prices rose to a new high of $445,529 for residential properties, up 4% in the last month and 5% compared to a year ago. While there is a significant rise in new listings, the market still favours sellers. Stock of unsold houses rose slightly to 33.1 weeks of stock; however, this is still down on the long term average of 39.1 weeks.
Source: www.realestate.co.nz

If I were borrowing what would I do?
Recommendations from a BNZ Economist are to sit on the floating rate and wait for a bank to provide a five year fixed rate at 5.5%. This provides some security, especially if you are an investor.

Commentary
While October saw an increase in listings, (up 12% on October 2011) the property market shows signs of confidence and heightened activity compared to previous years. House price inflation has already reached 5% according to the latest Real Estate Institute figures, surpassing the late 2007 peak in June 2007.

Filed under: REAL ESTATE | Tagged: Real Estate