Anyone actually 'on the ground' there (or been there very recently) able to kindly comment/share their thoughts as to the current 'activity' in the NZ market? Easy to see what asking prices are from over here, but what is the news about actual selling prices, etc etc.
cheers and happy new yew year to all
Full Version: Anyone Got Nz Property Market News?
Yep, I'm in Christchurch New Zealand, and follow the housing market closely.
The media here generally report with a positive spin on things.
Things are very slow. More properties for sale, and much lower sales numbers.
And the reported median house prices are very deceptive, as the numbers show that the bottom end of the market has dropped off most in number of sales, meaning the upper end of the market has pushed the median price up, while real house prices have fallen.
I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.
Another friend has sold and they are now renting, expecting prices to fall.
IMO things are going the same way as the UK.
This is on of the best resources I've found: http://www.sra.co.nz/
With free stuff here: http://www.sra.co.nz/literacycentre.html
What is your interest. If I can help more, ask away
Steve
The media here generally report with a positive spin on things.
Things are very slow. More properties for sale, and much lower sales numbers.
And the reported median house prices are very deceptive, as the numbers show that the bottom end of the market has dropped off most in number of sales, meaning the upper end of the market has pushed the median price up, while real house prices have fallen.
I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.
Another friend has sold and they are now renting, expecting prices to fall.
IMO things are going the same way as the UK.
This is on of the best resources I've found: http://www.sra.co.nz/
With free stuff here: http://www.sra.co.nz/literacycentre.html
What is your interest. If I can help more, ask away
Steve
No reply ? 
QUOTE (Steve Netwriter @ Jan 1 2008, 12:15 PM) 
Yep, I'm in Christchurch New Zealand, and follow the housing market closely.
The media here generally report with a positive spin on things.
Things are very slow. More properties for sale, and much lower sales numbers.
And the reported median house prices are very deceptive, as the numbers show that the bottom end of the market has dropped off most in number of sales, meaning the upper end of the market has pushed the median price up, while real house prices have fallen.
I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.
Another friend has sold and they are now renting, expecting prices to fall.
IMO things are going the same way as the UK.
This is on of the best resources I've found: http://www.sra.co.nz/
With free stuff here: http://www.sra.co.nz/literacycentre.html
What is your interest. If I can help more, ask away
Steve
The media here generally report with a positive spin on things.
Things are very slow. More properties for sale, and much lower sales numbers.
And the reported median house prices are very deceptive, as the numbers show that the bottom end of the market has dropped off most in number of sales, meaning the upper end of the market has pushed the median price up, while real house prices have fallen.
I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.
Another friend has sold and they are now renting, expecting prices to fall.
IMO things are going the same way as the UK.
This is on of the best resources I've found: http://www.sra.co.nz/
With free stuff here: http://www.sra.co.nz/literacycentre.html
What is your interest. If I can help more, ask away
Steve
Steve,
Do you think prices will fall this year?
My OH has a place in Aukland and is thinking of selling.
Thx
NZ is in the slump phase of the cycle
QUOTE (Bardon @ Mar 13 2008, 01:22 PM)
NZ is in the slump phase of the cycle
the slump has just started.... loooooong way to go IMO. I'm looking to buy there (I'm a kiwi and looking to move back someday) in about 5 years time.
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