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House Prices Begin To Cool
20/07/2004 07:23 AM
NewstalkZB
House prices have begun to cool, with predictions they are going to stay down, at least for a few months.
The median price fell in June from $248,000 to $243,000.
The Real Estate Institute says the drop is due to heavy sales of lower-priced apartments in Auckland. Interest rates and the traditional winter decline are also factors.
However, there have been price jumps in many coastal areas such as in Hawke's Bay and Otago. The Institute says properties near any water are also still in demand.
National president Graeme Woodley predicts prices will pick up as spring approaches, but in general, will be "steady as she goes" until Christmas.
Mr Woodley says the market is faring well considering the significant increases over the last two years.
20/07/2004 07:23 AM
NewstalkZB
House prices have begun to cool, with predictions they are going to stay down, at least for a few months.
The median price fell in June from $248,000 to $243,000.
The Real Estate Institute says the drop is due to heavy sales of lower-priced apartments in Auckland. Interest rates and the traditional winter decline are also factors.
However, there have been price jumps in many coastal areas such as in Hawke's Bay and Otago. The Institute says properties near any water are also still in demand.
National president Graeme Woodley predicts prices will pick up as spring approaches, but in general, will be "steady as she goes" until Christmas.
Mr Woodley says the market is faring well considering the significant increases over the last two years.