There's no place like home
Wednesday 4 February 2004
Up, down, sideways or around - it seems the housing market is all over the place if reports released in the past week are anything to go by.
By The LandlordEconomists, property experts, bankers, boffins and number-crunchers splurged on reports big-time.
Out shot AMP's home affordability index late last week, telling us places were increasingly out of our reach. No news for hard-pressed house hunters, but cause for the owners of our 1.3 million homes and flats to feel even more sanguine.
If those living in our 359,000 rented houses and flats had set house buying as a New Year's resolution, they could ditch that and light up the fags they'd sworn to give up.
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Auckland’s housing market saw another slump in sales volumes in May but prices are holding steady, according to the city’s largest real estate agency.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.