Slowdown in house prices

Friday 20 February 2004

Number of properties worth more than $600,000 has fallen; Real Estate Institute says gloomy predictions may be to blame

By The Landlord

There has been a big drop in the sale of higher-priced homes around the country.

The number of property sales worth more than $600,000 fell from 507 in December to 270 in January.

Sales of properties from $400,000-$600,000 dropped by a third.

In the major metropolitan areas, house sales in Auckland city are down from $396,750 in December to $364,000 in January, while metropolitan Auckland prices have fallen from $331,500 to $319,000. However, North Shore prices increased from $352,000 in December to $360,000 in January.

Read More - Opens in a new window
Commenting is closed

Property News

Price expectations spiral down

Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Industrial holdings leave Provincia in strong position

Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer