Auckland house price should rise for another six months
Auckland house prices are expected to keep rising as demand continues to outstrip supply, according to a panel of property experts.
The panel of property managers, valuers, agents and brokers was assembled by the Property Institute, which represents valuers, to give a feel for how the market is heading every quarter.
Institute chief executive, Ashley Church said that despite speculation to the contrary, the valuers unanimously predicted further price rises in Auckland over the next six months, across all price categories.
Fewer than half expected an increase in the number of Auckland house sales.
However, while the panel was only looking to the next six months, veteran property investor Olly Newland is less confident about the long-term position of Auckland’s housing market.
Newland says there may be some small price adjustments in the near term, but predicts the Auckland market will then be stagnant for a long period, possibly a decade.