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.
\nSource: www.realestate.co.nz<\/p>\n
If I were borrowing what would I do?
\nRecommendations 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.<\/p>\n
Commentary
\nWhile 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n","protected":false},"author":1116,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"ASKING PRICES REACH NEW HIGH - colinrealestate","description":"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 ris"},"footnotes":""},"categories":[5532],"tags":[5533],"class_list":["post-467","post","type-post","status-publish","format-standard","hentry","category-real-estate-2","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/users\/1116"}],"replies":[{"embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=467"}],"version-history":[{"count":1,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/467\/revisions"}],"predecessor-version":[{"id":468,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/467\/revisions\/468"}],"wp:attachment":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}