Auckland's housing "bubble" expected to spread
Martin Hunter
Lots of options, but can you afford them?
Homeowners across the country can expect to see rising value to their homes as surging Auckland property prices spread, a new study claims.
An Auckland University study predicts the property bubble that has seen prices skyrocket will impact on the rest of New Zealand, especially Wellington, Christchurch, Hamilton and Tauranga.
Auckland's house prices hit an all time high this week, with homes selling at an average of just under $810,000, up nearly 50 per cent from $414,355 at the peak of the last property boom in 2007.
How high prices rise will depend on the income of regional buyers and the ability of people to pay rent, report author Ryan Greenaway-McGrevy said.
The regional rise was not expected to be "as massive a price increase as there has been in Auckland", the economist said.
Martin Hunter
Lots of options, but can you afford them?
Homeowners across the country can expect to see rising value to their homes as surging Auckland property prices spread, a new study claims.
An Auckland University study predicts the property bubble that has seen prices skyrocket will impact on the rest of New Zealand, especially Wellington, Christchurch, Hamilton and Tauranga.
Auckland's house prices hit an all time high this week, with homes selling at an average of just under $810,000, up nearly 50 per cent from $414,355 at the peak of the last property boom in 2007.
How high prices rise will depend on the income of regional buyers and the ability of people to pay rent, report author Ryan Greenaway-McGrevy said.
The regional rise was not expected to be "as massive a price increase as there has been in Auckland", the economist said.
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