Housing market remains positive

Saturday 21 August 2004

If the housing market was a person, it might want to borrow Mark Twain’s famous quote: the reports of my demise are greatly exaggerated.

By The Landlord

The latest figures show the national median house price reached yet another record in July while the number of days it took to sell a house shrank.

The one statistic in the latest Real Estate Institute figures in keeping with the notion that the housing market is cooling was the number of houses sold. They shrank from 8,367 in June to 7,802 in July, a 23% drop from the 10,138 sold in July last year and only a handful more than the 7,795were sold in July last year.

The national median house price jumped from $243,000 in June to $249,000 in July. That exceeded the previous record of $248,000 set in May. The July price is 17.9% higher than the $211,250 recorded in July last year.

That suggests a re-acceleration of house price inflation since June’s price was 15.7% higher than in June last year.

Read More - Opens in a new window
Commenting is closed

House Prices

S&P forecast 10% house price fall

Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.


$75m on offer for new developments

Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.


Advisers buoyed by strong property market

The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.

Site by PHP Developer