No stopping the top end of the Property Market

[donna]

The rich are still doing very nicely, according to this report, showing $1m difference between suburbs.

• Auckland's Herne Bay leads with $4.32M average asking price - $3.61M more than Auckland Central
• Wellington sees $1.14M gap between coastal Seatoun ($1.77M) and central city ($629K)
• Christchurch's Port Hills premium continues with Kennedys Bush at $1.98M
• Premium prices driven by different factors across cities - coastal appeal, elevated views, and northern suburbs commanding top-dollar

Brigid Conroy | [email protected] | Brainchild



regards,

Donna

[donna]

Source

Christchurch has done the best -7%. Wellington has done the worst—24.9% (call it a 25% drop).

I cannot see a quick turnaround. It may now be too optimistic to think house prices may double every 10 years!

[CameronB]

Am I missing something or does it mean property in south Auckland, few years ago, had a buying power of 1M apples and now it can but 0.65M apples?