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NZ home prices still on the up

NZ home prices still on the up

Pricing index show that residential real estate prices across New Zealand are still continuing upwards following the trend for the last twelve months.

On a national basis house values have recovered to within 3 per cent of peak values last seen at the end of 2007 – the slight price fall during March has now been recovered.

Buyer confidence appears to have improved in recent months and has resulted in increased sales transactions among many sectors of the property market with a particular uplift in the first home buyers sector due to the Welcome Home Loans programme and from people who have waited for improvements to the economy before looking to upgrade.

Some areas of the country have a shortage of supply and in these cases well-presented properties will often have three or four prospective buyers interested in clinching the sale.

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Published: 15-May-12

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