Time to bail out of housing: economist

Monday 9 February 2004

While the housing market remains strong and house prices should rise a bit further, the latest immigration numbers suggest now is the time to bail out, according to Bank of New Zealand chief economist Tony Alexander.

By The Landlord

The figures showed a net gain of 1,500 people in December which Alexander says is below the average December gain for the last 10 years of 1,718.

"Extrapolate that result for the year and you get a net gain of 11,000 people versus the 34,909 gained over 2003 and 38,200 gained over 2002," he says.

What’s worse, the rate of turn in the figures is accelerating "so one cannot rule out no net gain this year and a loss of people over 2005, especially with the world economy looking strong."

Read More - Opens in a new window
Commenting is closed

Property News

Share your views on property investing

It's that time of the year where we run the NZ Property Investor's survey of investor. Take part and be in to win.

House Prices

Values pick up the pace

There’s a more upbeat feel to the property market and it’s obvious in this month’s QV data which has values firmly on the rise.


Commercial disrupter proves popular

New commercial property disrupter, Jasper, has hit the ground running with their first investment offering achieving full subscription in just 36 hours.


LVRs kept on hold

The Reserve Bank has kept its LVR speed limits on hold amid fears low interest rates "could lead to a resurgence in higher-risk lending".

Site by PHP Developer