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Anyone Got Nz Property Market News?

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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

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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I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.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 :D

Steve

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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I friend put their place up for sale, and have withdrawn it, saying the market was dreadful.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 :D

Steve

Steve,

Do you think prices will fall this year?

My OH has a place in Aukland and is thinking of selling.

Thx

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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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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.

yes i am selling up in Hong Kong this year (2011) and will buy in NZ maybe 2012 or 2013

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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

I returned to the UK in August last year after 6 years in NZ.

The market in South Island is very slow at present even by NZ standards.

If you want to see selling prices you can take out a subscription to Quotabale Value

It looks to be falling too, and in the next year or two I will be looking for a section for a new build. I expect to pick up a quarter or half acre section with nice sea views for circa 50-60 NZ$

Edited by Patfig

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It looks to be falling too, and in the next year or two I will be looking for a section for a new build. I expect to pick up a quarter or half acre section with nice sea views for circa 50-60 NZ$

We will look to live in near Aukland where prices seem to be holding firm (and are quite a bit higher than the south island obviously).

I find "trade me" quite a useful way to look at property.

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We will look to live in near Aukland where prices seem to be holding firm (and are quite a bit higher than the south island obviously).

I find "trade me" quite a useful way to look at property.

I always look at trade me its a very good yardstick of where things are price wise

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If you want to see selling prices you can take out a subscription to Quotabale Value

Can I find out the selling prices from the local councils? or only through Quotable Value?

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Can I find out the selling prices from the local councils? or only through Quotable Value?

I dont think the local councils will give you any info without you paying likewise with QV

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