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July numbers indicate Auckland property price has stable.
Good sign
The good thing about this is that, hopefully, there won't be any further measures introduced by the reserve bank to cool down the market. I'm happy with just the 70% LVR for Auckland properties.
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Exactly Speights, effect = 0 as there isn't a problem and too many people are equity rich now, or their parents are, for 10% extra deposit to really have any effect.
I don't see any more measures I think they will realise it is impossible and the dairy industry collapse is becoming too much of an issue now, their focus will shift I reckon to that.
I don't see any more measures I think they will realise it is impossible and the dairy industry collapse is becoming too much of an issue now, their focus will shift I reckon to that.
Haha, you are right Damap.
Knee jerk effect, trying to solve a non-existence problem. There are more important issues out there to resolve.
Last edited by chrisgoh; 05-08-2015, 11:51 PM.
Reason: grammar
RE agents I deal with in the central city (ponsonby,grey lynn,) are saying sales activity has been low in the central suburbs but good prices still been achieved. my take on this is people are not selling as they see continued price increases which in turn adds to the shortage of listings and prices are still rising, therefore sales are occurring where there is housing stock been created (Hobsonville for example, 2 sales per day in the 500-800K range) so there are more sales occurring in these lower price brackets, hence barfoots lower median sales data. From what I have seen there is no slow down occurring, not out west anyway.
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