Property Prices - More of the Same
2021 has gotten off to much of the same when it comes to property prices across the country, with prices continuing the upward trend.
Real Estate Institute of New Zealand (REINZ) released its latest data, showing Median house prices across New Zealand have increased by 19.3% to a new record high $749,000.00. These increases in House prices are being fueled by two main factors,
firstly, stock levels (the actual number of houses for sale) are at all time lows, currently at half of the levels they were at 12 months ago in December 2019.
In addition to this, interest rates have held at record lows, but the fabled "negative" rates, which were bounced around in 2020 have for the most part been tabled. The majority of Economists, only predicting one more cut to the OCR of 15bp's, taking it to 0.10%.
Unfortunately for buyers, this reduction with continued low stocks could continue to fuel house price increases.
For buyers in Auckland we are constantly looking for ways to assist helping get Kiwi Families on to the property ladder, so we have brought together some of Auckland's best real estate agents to present properties in the comfort of our offices with drinks and nibbles provided.
The events free and could be the opportunity for you to find your next property.
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