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 LandlordFigures 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
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.