ali
I'll Hang Around A Little
Joined: 07 Aug 2004
Posts: 13
Location: harrogate uk
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Posted: Sun Aug 08, 2004 4:25 am Post subject: kiwi property market |
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hi there,
I have just been reading some posts on people speculating on property prices in the uk. i have a property in oamaru on the south island that i bought 18months ago and wondered if any of you in kiwiland could inform me of the property market goings on there. i'm not out to make a profit, just wondered if the mad english situation is spreading to nz. (as it was threataning to last time i was out last year -i.e. holmes specials on tv about house values etc)
cheers
al |
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karltsmith
Moderator
Joined: 26 Nov 2003
Posts: 570
Location: North Shore, Auckland since March 2004
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Posted: Sun Aug 08, 2004 8:49 am Post subject: |
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Hi Ali,
Yes certainly in the main centres and particularly in AKL property prices have surged ahead over the last 18 months. It has cooled down a lot now and there is a 15% reduction in market volume (as of the end of June 2004 compared ith June 2003) and 2% drop in average settlement values....however as migration is a great influence on the market this levelling off might be short lived. Speculation is that interest rates will rise again twice before the end of the year, by two 0.25% increments, this might also help to slow things down a bit!
Karl |
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