Property prices defy predictions

Tuesday 23 March 2004

Property prices in Canterbury and Westland leapt last month in defiance of the forecast slow-down in the real estate market.

By The Landlord

Figures released yesterday by the New Zealand Real Estate Institute show the median house price in the region rose from $185,000 in January to $200,000 in February – the most noticeable rise in the country.

Nationally, the national median selling price rose from $227,750 in January to $231,000 in February, with rises recorded in six regions and falls in four.

Sales rose from 8404 to 9940. Although a rise compared with the quieter holiday period might be expected, sales were also up on the 9624 recorded in February 2003.

Read More - Opens in a new window
Commenting is closed

House Prices

Steady demand makes for rising values

The property market recovery just keeps stepping up the pace, with QV’s latest data revealing that all sixteen of the major cities they monitor saw quarterly value growth in January.


Headwinds for the commercial market

Tightening credit conditions could impact on New Zealand’s booming commercial property market, according to the Property Council’s chief executive.


Heartland launches reverse mortgages for investors

Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand.

Site by PHP Developer