FACTORS DRIVING HOUSE PRICES
Posted on November 28, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
REINZ House Sales – Up: Sales lifted 2.6% in September after a 3.3% drop in August
Interest Rates – Up: Short term rates are cheap but anything longer than 3 years is becoming more expensive.
OCR – Up: No sign of a OCR increase yet. It’s widely predicted for March 2014.
Immigration – Up: The strongest inflow in a decade has been recorded.
Building Consents – Up: Consents numbers rose 1.4% in August but it will take a long time for construction to catch up after several very slow years.
Mortgage Approvals: -Down: Approval rates have slowed in October and the average value of approvals ia also easing.
Rents – Down: Rent growth is at a 16 months low of 3.1%
Filed under: REAL ESTATE | Tagged: Real Estate