FACTORS DRIVING HOUSE PRICES
* REINZ House Sales – Down:
There were 5763 sales in
June,down 6.3% on June 2013 and
more than 12% down on May. .
* Interest Rates – Up: Fixed
mortgage rates have risen sharply
over the past few weeks..
* OCR – Down: The OCR is set to
increase over coming years.
* Immigration – Up: Immigration is
running at a 10 yr high, as fewer
Kiwis leave and return from Australia.
* Building Consents – Neutral:
Building consent numbers are
growing but still have a way to go to
make up for years of shortfall.
*Mortgage Approvals: Down: The
number of mortgage approvals is
down 17.5% compared to the same
13 weeks of last year.
* Rents – Up: Landlords are
advised to keep up with rising
interest rates, 3brm homes rents are
up an average of $21wk, compared
to last year.
Filed under: REAL ESTATE