Property boom gradually slowing, says Deutsche Bank

Monday 26 April 2004

The housing market is not quite as buoyant as the latest figures might suggest, says Deutsche Bank.

By The Landlord

Real Estate Institute figures released last week showed that members sold 11,371 houses last month, 14 per cent more than in February and 6 per cent more than in March last year.

The national median price was $240,500, a 20 per cent gain on March 2003.

While Deutsche Bank acknowledges that the numbers were stronger than other indicators had suggested, it argues that the housing market is still caught in a gradual slowdown, which began last October.

The number of sales in March was 17 per cent down on the market's busiest month, last October, the bank points out.


For the first three months of this year, sales were 8.6 per cent lower than they were in the last three months of last year.

And, says a Deutsche Bank report: "Taking the March quarter as a whole, the median price rose by only 1.2 per cent, following an increase of 7.8 per cent in the December quarter."

Read More - Opens in a new window
Commenting is closed

House Prices

Demand is keeping prices resilient

Stronger than anticipated demand from property buyers is helping to keep prices nationwide buoyant – and solidly up on last year - in the post-Covid housing market.

Commercial

Augusta Capital takeover bid now unconditional

ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.

Mortgages

ANZ eases servicing test

ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.

Site by PHP Developer