Tuesday, January 10, 2012
Meanwhile on the other side of the earth, house price inflation is being celebrated.
Property prices in Auckland are expected to rise further this year, according to property valuation and information company QV. During 2011, the average house price in Auckland lifted 4.3 per cent to an average of $525,532 according to the sales data lodged into QV's system. This was 1.4 per cent above the previous market peak seen in 2007. "The Auckland market in 2011 was generally characterised by a lack of new listings and quality stock," QV.co.nz research director Jonno Ingerson said. "This led to increased demand for the good quality properties that did come to the market." Prices in central Auckland rose the most across the region, up 5.8 per cent in December from a year earlier to an average of $597,023.