House price slide predicted
Sunday 23 May 2004
An active government sector will cushion Wellington from an expected house price slowdown, but values elsewhere could drop up to 8 per cent in the next two years, a new forecast says.
By The LandlordHouse prices are peaking and there will be a marked slowing in the real estate market this year, the report says.
Prepared for mortgage insurer PMI by economic consultancy Infometrics, the report says lower migration and less buoyant conditions will curb house price rises, which have averaged 19 per cent nationally this year.
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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.
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