Further evidence of what the future holds comes from the respected ASB who confirm what I wrote in my article which appears above.
It’s not too late to take advantage of the current situation, but like everything, it will not last forever. I give it 12-18 months before the next correction at flattening out – which is not long in real estate terms.
If you have been thinking about investing then start now before you get left behind in the dust.
House prices in Auckland, Canterbury to keep rising due to supply constraints, ASB economists say after figures showing both firm sellers’ markets
House prices in supply constrained Auckland and Canterbury will keep rising due to supply constraints, ASB economists say, following figures from Realestate.co.nz showing both remained firm sellers’ markets.
Realestate.co.nz’s Property Report covering October < shows inventory levels of houses for sale in the two cities remained “well below” long-term averages despite listings in Canterbury rising, while asking prices of houses listed for sale during October hit new highs.
ASB economist Jane Turner noted the number of new house listings nationwide on realestate.co.nz edged slightly up over October, although remained low.
“New listings lifted strongly in Canterbury, which is an encouraging sign as this is one of the regions struggling with low supply. However, new listings in Auckland continued to decline and further exacerbate existing supply constraints,” Turner said.
Seasonally adjusted figures showed 1,315 new listings in Canterbury over the month, up from 1,147 in September. Meanwhile, there were 3,618 new listings in Auckland, down from 3,637 in September.
Read the rest here: