Boom not over - REINZ

Sunday 19 September 2004

Real Estate Institute denies claims property boom is over but is advising caution as interest rates continue to rise

By The Landlord

The Real Estate Institute is bristling at suggestions the property boom is over.

At least one economist has made such a declaration, based on the latest figures which show the median house price fell in August to $247,000.

But Institute president Howard Morley says he cannot see anything supporting that view in the way he reads the statistics.

He says prices are holding, although there has been a fall off in the volumes of real estate being sold.

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