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Thread: House prices soaring

  1. #1
    MotherBear's Avatar
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    Default House prices soaring

    House prices soaring
    10:49 AM Friday Apr 16, 2010

    Expand Shrink House prices have risen to their highest March level in two decades, while the number of sales broke through the 6000 barrier last month after dropping at the end of last year.

    Latest figures from the Real Estate Institute of New Zealand (REINZ) put the median sale price of homes in New Zealand last month at $360,500, seven per cent up on the same period last year, and the highest March figure in 20 years.

    REINZ president Peter McDonald said the apparently strengthening market was an encouraging sign.

    "Despite an abundance of good listings at present, we are still seeing prices going up as a result of strong demand from genuine home buyers."

    The total value of residential values, including sections, in New Zealand during March was $2.73 billion, an increase on the February total of $2.14 billion.

    More here.
    Mother Bear

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  2. #2
    Jof's Avatar
    Jof
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    This and the exchange rate is a bit of a downer for those of us waiting to come out from the UK

    Still I suppose it's good news for homeowners in NZ as long as it doesn't signal the start of a property bubble.

    What's the situation on a new Capital Gains Tax? - Is National for or against it?

    jof

  3. #3
    macfod's Avatar
    macfod is offline Oh Masterful One
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    Default dont believe all you read

    I pesonally dont see a problem as the sales are not great and little is coming on the market this year so its just a little better than last year.
    Certainly in Dunedin prices are lower and over 70% selling below their RV.
    We are selling two houses and having to take a hit as prices have dropped...

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