The long expected surge in property prices – and perhaps the start of a new mini- boom, is looking more and more likely with every day that goes past.
Low interest rates, slow but steady population growth, a lack of new built homes, the leaky homes disaster and the tragic Christchurch earthquake have led to a chronic shortage of homes, especially in Auckland, and no doubt soon spreading to other centres as well – if it hasn’t already.
There is an old saying:
“He who hesitates is lost”
If you were thinking of investing in property for capital growth, security, and passive income then now is the time to get going before the crowd goes wild.
Get back to me if you want to learn more on how to create wealth and security in a rising market.
FNZIM DipMan MPINZ
Authorised Financial Advisor
Property asking prices hit record high
There was a surge of new listings on the property market in February, along with a new record high asking price, according to realestate.co.nz.
The website’s monthly property report shows the seasonally adjusted national average asking price hit $426,575 in February, up three per cent on the same time last year.
This is the highest asking price recorded by the property listings site since it began tracking market data five years ago.
The report also shows 13,459 new listings of property for sale in the month, 18 per cent up on February 2011 and a 58 per cent rise on January. On a seasonally adjusted basis listings were up 14 per cent between January and February.
The concurrent rise in new listings and asking prices indicated sellers were finally responding to the ongoing high demand for property, as the market has continued to lean in their favour, realestate.co.nz CEO Alistair Helm said.
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