Housing market still strong

Monday 1 March 2004

The latest figures underline just how strong the housing market has been and also suggest it will be some time before it cools much.

By The Landlord

Firstly, Quotable Value says its house price index jumped 21.9% in 2003, the highest annual growth in the 13 years it has been producing the index.

Secondly, Statistics New Zealand says housing consents jumped 11.1% in January from December in seasonally adjusted terms and were 16% higher than in January last year.

While recent Real Estate Institute’s figures are showing a slowdown in the median house price, Quotable Value says it’s index showed continued growth in the December quarter, up 4.9% after a 7.3% increase in the September quarter.

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