LVR Limit Fails To Stop Rising Prices

New high for Auckland house prices  
RICHARD MEADOWS
08/01/2014

Auckland’s housing market ended last year on a record high, sales figures from real estate firm Barfoot & Thompson show.
The average sale price of a home was $700,387 last month, up 12.2 per cent from $624,000 in December 2012.
The median or mid-ranged price last month was $629,000, a 14.3 per cent increase on the December 2012 median of $550,500.

Barfoot & Thompson managing director Peter Thompson said seasonal trends that traditionally saw higher-value properties traded had not been offset by recent Reserve Bank changes.

In October, the central bank introduced “speed limits” that restrict the value of mortgages banks are allowed to lend to customers with low equity.
Barfoot & Thompson last month sold 817 residential properties, which was down on December 2012 but still the second-best December in the past 10    years.

Auckland’s housing market ended last year on a record high, sales figures from real estate firm Barfoot & Thompson show.
The average sale price of a home was $700,387 last month, up 12.2 per cent from $624,000 in December 2012.

The median or mid-ranged price last month was $629,000, a 14.3 per cent increase on the December 2012 median of $550,500.

Barfoot & Thompson managing director Peter Thompson said seasonal trends that traditionally saw higher-value properties traded had not been offset by recent Reserve Bank changes

In October, the central bank introduced “speed limits” that restrict the value of mortgages banks are allowed to lend to customers with low equity.
Barfoot & Thompson last month sold 817 residential properties, which was down on December 2012 but still the second-best December in the past 10 years.

link:

http://www.stuff.co.nz/business/money/9588242/New-high-for-Auckland-house-prices

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