Property Management

Housing boom to boom on despite dip in confidence

The housing market has become riskier, but low interest rates are keeping homes affordable and the boom shows little sign yet of running out of steam, ASB Bank concludes from its latest quarterly housing survey.

Saturday, October 11th 2003

Expectations of more price rises are moderating, people expect interest rates to rise and their sense that this is a good time to buy is fading fast, the survey shows.

But the market remains very busy. Said ASB chief economist Anthony Byett: "In spite of high prices and in spite of all their reservations at the end of the day, people find it's affordable and they do it."

A Weekend Herald special report on the housing market found last month that the annual increase in house prices was the highest in 20 years, but the length of this boom was less than half the 1990s one.

Mr Byett expects the upswing in prices to continue for 12 months.

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[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Heartland Bank - Online	6.69
SBS FirstHome Combo	6.74
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.45
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ASB Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
Kiwibank Special	6.79
Co-operative Bank - Owner Occ	6.79
ANZ Special	6.79

ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
SBS Bank Special	6.55
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
Kainga Ora	6.99

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50