[smitjo]

Hi Everyone,

Since the UK housing market is currently in a slum and the worst for 30 years, I was just wondering what the housing market was doing in New Zealand? Is it experiencing the same sort of thing as the UK? I only ask as my folks are just about to put their place on the market and it doesn't look good for them! It would make it easier to know that it is a global problem rather than just hitting the UK - so any help/news would be great from those of you in NZ.:)

Thanks in advance
Jo :nice1

[Steadybears]

Definately prices are dropping - we were offered a house in Hamilton for
100 000 less than what the owners had previously offered. Houses are on the market for longer and we have had stacks to look at which have heard that wasnt happening this time last year. So hope it goes well for you

Jayne

[Sam B]

Defo in a slump here too, worst time to have my house on the market.

[chocolate cake]

Yes, the house market here seems pretty similar to the UK, overpriced.

I guess it's the same as the UK, for people moving within NZ it shouldn't be much of an issue, whilst your house will be worth less, than one you're moving to will be too.
I can't understand people deciding not to move because there house has gone down in value, it's all relative. A house isn't an investment it's a home, the price on the prospective new home will similar depressed. Sure in a few years, the market may well have recovered the losses, but so will that prospective new home too. Moving overseas is a different matter, as it's a different market.