Latest Reserve Bank graphs

From a recent Olly Newland client alert:

Have a look: The RBNZ just released the latest numbers for inflation, GDP, Interest rates, house prices, debt, employment etc.

If you believe a picture can paint a thousand words look at the key graphs here.

Reserve Bank of NZ graph

House prices on the move

From a recent Olly Newland client alert:

Worth reading: A couple of reports of an announcement by the Real Estate Institute that house prices are once more on the move. Regular readers of my column won’t be surprised. I have often said a low interest rate environment such as we’re enjoying at present always translates into the inflation of asset prices — and property is one of the first to benefit.
We now have a major ‘disconnect’ in the market. On one hand we see an (historic) surge in mortgagee and ‘distressed’ sales. On the other, we have mounting pressure on the property market — increasing demand … and a slow but steady rise in prices. The mortgagee and distressed sales will be all cleared away in the next few months (sooner than many think) and their dampening effect on market prices will fade away. Earlier prophecies that the property market would fall 25% (or more) by the end of this year haven’t been bourne out by the facts.
I recall being asked to comment on the hysterical claims of various pundits on TV early this year — and saying at the time that I believed the recession would be less severe than predicted by some — with more gentle flow-on effects. Investors and intending buyers should however be prepared for interest rates to rise within the next few months as the Reserve Bank starts lifting rates again in an effort to hold back property inflation.
So, I suggest, allow another 1% to 1.5% extra in interest rate costs in your calculations … just to be on the safe side.

September house sales up 30%, prices rise 8-10% by Jazial Crossley (National Business Review 14/10/2009 – 11:50

The latest Real Estate Institute of New Zealand research shows more signs of market recovery with the average number of houses sold last month rising 30% and prices up between 8-10% on the same time last year. The 6,464 homes sold nationwide in September was up 30% on the same month in 2008.
In 2007 there were 5,894 houses transacted, with the most recent September sales volume peak being 8,658 in 2006.
“The figures indicate improved confidence of buyers and sellers in the marketplace,” REINZ president Peter McDonald said. In Auckland, the average price paid for a home rose by 9% in September compared to the same month last year, with the volume of sales rising with Wellington rising 8.7% though other North Island suburbs were down 0.3% for the same period. Christchurch house prices had the biggest gain at 10.2%, with the rest of the South Island rising 1.5%. Compared to August sales figures, the average price paid for homes rose by 1.9% in September. (Continues)

Read the full article here:

Housing market heats up By DAVID HARGREAVES – BusinessDay 14/10/2009
The housing market’s renewed burst of life is continuing, with prices as measured by the Real Estate Institute’s housing price index gaining 1.9 percent in September.

In the September quarter the index, recently introduced by REINZ as a measure of the housing market’s strength, increased 2.5 percent. The index is now up some 5.3 percent on its year-ago level and prices are now just 4.4 percent below their November 2007 peak.

Most of the new heat in the market is being generated in the main centres.

Compared with a year ago, Christchurch prices are up 10.2 percent, Auckland prices 9 percent, and Wellington 8.7 percent. The national median price for houses sold in September was $350,000, up from $346,750 in August and $330,000 a year ago. The increased prices are coming on the back of rising numbers of houses sold and, crucially, fewer days needed for sales to be completed. (Continues)

Read the full article here:

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>