The NZ Housing Market

Wednesday, 16 September 2009

New Housing figures point to possible end of recession

NZ House prices rose 1.9 per cent in August, based on the Real Estate Institute's price index.

September figures published on 16th September were ahead of August but below September totals for the preceding five years.  The median number of days taken to sell dwellings edged down to 33 in September.

The national median house price was $350,000 and 6.1 percent higher than for September 08 last year.  New Zealand is holding its own globally with only a slight drop of 4.4 per cent in house prices since the peak in November 2007.
New Zealand has ranked 9th in the top 10 housing markets in the world, with prices dropping -1.3% in year to June 09.  Showing that NZ ranked 9th least affected by the recession out of 32 countries. 
Source The NZ Herald Sept 09