Sunday, Feb 17, 2008
New Zealand shows signs of housing weakness
Scoop: Significant Increase in No. of Homes for Sale in NZ
35% MORE RESIDENTIAL PROPERTY LISTINGS THAN THIS TIME LAST YEAR
Statistics released by the real estate industry’s official website show record numbers of houses for sale across the country indicating there may be more homes on the market now than ever before in NZ’s history.
Posted by happyrenterz @ 08:39 AM (222 views) Add Comment
1 Comment
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1. Andyh said...
The Real Estate Institute of New Zealand figures from last week showed that National average prices in NZ were already down 3% from the peak values recorded a few month ago. Annual house prices indices should turn negative in either March or April of this year. Figures from the other source of info here in NZ show a fall of 4% from the peak in October (source Quotable Value). We are looking at a 5-10% fall minimum for the whole of 2008. Sales volumes have collapsed to levels not seen since the millenium.