Property Boom Shows Signs Of Easing
Monday 26 January 2004
There are fresh warning signs the property market could be about to come off the boil.
By The LandlordIt became harder to buy a house in the three months to December.
A quarterly survey by AMP shows homes were almost six percent less affordable, as rising prices outstripped any increase in salary.
AMP says the outlook for housing this year is uncertain, despite low interest rates.
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A property trader, who has attracted unfavourable media attention in recent years, has received a formal warning from the Commerce Commission.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.