Friday, April 6, 2012

Bubble in New Zealand Hits New Highs

Property sales in Feb up 37% Year on Year
Listings up 8% Year on Year.
Property asking prices in New Zealand reach record levels
The seasonally adjusted truncated mean asking price for listings in March rose again to a new record level of $429,865 up $3,300 from February. This pushes the asking price up to another new high. The trend in the last three years very clearly shows an accelerating growth in asking price over the recent 12 months as compared to 2010/2011. ‘Eagerness to buy matched to availability of attractive financial support is however not being met with a consistent and sufficient supply of new listings. This scenario continues to drive this sellers’ market, where it is clear those homeowners who are putting their property on the market are expecting to see a higher sale price as flagged by the new record level of asking price in March,’ says the report published by

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