The Coming Property Boom

Auckland house prices peak, buck NZ trend

JASON KRUPP

01/05/2012

Auckland house prices hit an all time high in April as housing shortage issues saw New Zealand’s biggest city buck price declines across the rest of the country.

Figures compiled by realestate.co.nz show the average asking price for an Auckland home rose 1.7 per cent last month to a record high of $568,820, the third time in eight months that the measure has broken fresh ground.

That compares an average asking price of $423,832 for all New Zealand homes, which eased 1 per cent from March.

Realestate.co.nz chief executive Alistair Helm said the price increases were understandable given the ”chronic shortage” of homes on the market. That’s as a result of a lack of new home building activity and increased migration from the earthquake ravaged regions of Canterbury.

Link:

http://www.stuff.co.nz/business/money/6836042/Auckland-house-prices-peak-buck-NZ-trend

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