Nothing like a “shock horror” headline to grab the attention.
It never ceases to amaze me that people take one month as the whole picture. All that matters is the trend over 6-12 months and the trend depends which area you are in. All the signs show so far that Auckland is trending up and over all the price change over 12 months is 2%. down- big deal. Other areas are worse off but so they should be.
Many such areas were stupidly over priced as newbie investors were whipped into a frenzy by the same journalists ( not to mention spruikers) that wrote this latest codswobble. And to compare prices with the “07 peak” is also gross over simplification. It’s the same old story. Some journalists will never let the facts get in way of a good story.
Mr Van den Bergh should be beaten mercilessly across the soles of his feet and made to repeat 1000 times: ”I must not exaggerate”
House prices plummet
ROELAND VAN DEN BERGH
Signs of a possible recovery in property values were short lived as Auckland and Wellington slid back again in March.
House prices fell by nearly $12,000 in the three months to March as market volatility continued, according to the latest figures from valuation firm QV
Read the rest here:House-prices-plummet
The NBR reports the same story today far more accurately:
“House values stable
New QV figures show national residential property values remained relatively stable in March, while signs of increasing activity were noted in Auckland and Wellington etc”
What are you seeing? Write to me and tell me what’s going on in your neighbourhood.