More signs of a rising market

House price expectations rocket

Conor O’Brien | NBR Monday May 14, 2012 |

The latest ASB Bank housing confidence survey shows price expectations have rocketed in all regions and confidence remains steady nationwide.

In the three months to April, 69% of Christchurch respondents expect house prices will increase, the highest in the country.

In Auckland, 54% expect the cost of buying a house to rise.

The latest Real Institute of New Zealand house price data shows median sales prices are up 7.6% in Christchurch and 4.5% in Auckland.

Expectations that prices will rise are higher in the South Island, with 54% expecting increases in the “rest of South Island” compared to 34% in the “rest of North Island”.

The national total was 45%, compared to 27% in the three months to January. …

Read on at the National Business Review

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