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Hi all,
News today...
The threat of rising interest rates (and an actual increase from Westpac Bank) failed to take any of the steam out of the housing market in November when the national median house price hit yet another record, although the number of sales dipped slightly to a still high level.
The national median house price rose from $227,000 in October to $235,000 which was a massive 20.5% higher than the $195,000 median price in November last year.
Real Estate Institute president Graeme Woodley doesn't think rising rates will affect the market much while immigration and a housing shortage in some places continue to support prices.
The particular hotspots in November were Otago where the median price jumped 6.5% from October and was up 34.6% from November last year, Taranaki, up 4.9% on October and 22.2% up on November last year, and Hawkes Bay, up 4.2% on October and up 28.6% on November last year.
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Best regards
Marc
News today...
The threat of rising interest rates (and an actual increase from Westpac Bank) failed to take any of the steam out of the housing market in November when the national median house price hit yet another record, although the number of sales dipped slightly to a still high level.
The national median house price rose from $227,000 in October to $235,000 which was a massive 20.5% higher than the $195,000 median price in November last year.
Real Estate Institute president Graeme Woodley doesn't think rising rates will affect the market much while immigration and a housing shortage in some places continue to support prices.
The particular hotspots in November were Otago where the median price jumped 6.5% from October and was up 34.6% from November last year, Taranaki, up 4.9% on October and 22.2% up on November last year, and Hawkes Bay, up 4.2% on October and up 28.6% on November last year.
Read More->
Best regards
Marc