Christchurch house buyers expecting big price rises 13 Feb 2012
- MARKET CLOSE: NZ shares rise, led by A2 after $40M placement Business
- NZ dollar heads for 3.7% weekly gain; Fed timing pushed out Business
- Further land sale restrictions possible under TPP Business
- NZ govt to look at monopoly power rules next month Business
- Former SPGI director Turnock pleads guilty on FMA charges Business
- NZ spending on debit, credit cards increases in September Business
- Opponent lays out alternative for Silver Fern Farms sale Business
- AFT Pharmaceuticals confirms dual-listing plans Business
- A2 Milk raises $40 mln at 5.5% discount in placement Business
- NZ dollar gains as dovish Fed lifts commodity, asset prices Business
House price inflation expectations were greatest in Christchurch at the end of last year, according to an ACNielsen poll for ASB’s monthly Housing Confidence Index.
While a net 27 percent nationwide expect higher house prices in the year ahead, that number was a net 56 percent in Christchurch, where expectations of rising interest rates are also highest, at a net 55 percent.
However, the survey was taken before last month’s monetary policy update from the Reserve Bank, which indicated the official cash rate would remain at its historic low of 2.5 percent at least for all of 2012.
The ASB index showed a slight easing in residential real estate confidence, although the general trend of recent months is intact, the bank’s economists say. Auckland leads the way, with subdued listings pushing up prices for those houses that are being offered.
“The Auckland housing market remains tighter relative to other regions in New Zealand,” they say.
A net 40 percent of Aucklanders in December thought house prices would rise in the year ahead, and a net 18 percent thought it was a good time to buy a house. In Christchurch, a net 2 percent thought now was a bad time to buy.
Price expectations are more subdued in the North Island outside Auckland, with only a net 15 percent expecting higher prices in 2012, while a net 24 percent of South Islanders outside of Christchurch think they’ll be on the rise this year.
6 Oct 2015 News
New Zealand Government Hon Steven Joyce Minister for Economic Development Hon Nathan Guy Minister for Primary Industries more
6 Oct 2015 Business News
Business lobbies, wine growers, meat sector welcome TPP Oct. 6 (BusinessDesk) - Business lobbies, wine growers and the country's... more
6 Oct 2015 Business News
NZ business confidence drops to four-year low as economic outlook worries firms Oct. 6 (BusinessDesk) - New Zealand business ... more
28 Sep 2015 Lifestyle
New Zealand Automobile Association Media Release: 28 September 2015 Popularity of new guide fuelled by pedal power New Zealanders... more
6 Oct 2015 Property
Auckland house prices rise to record in September as regulations loom, Barfoot says Oct. 6 (BusinessDesk) - Auckland house prices ... more
28 Sep 2015 Property
Chinese property investors are rapidly disappearing from the auction room, says the boss of Auckland's biggest real estate... more
21 Sep 2015 Migration
NZ's annual net migration reaches record 60,300 in August on Indian, Chinese students By Jonathan Underhill Sept. 21... more
28 Sep 2015 Travel & Tourism
An increase in overseas visitors seeking a winter break resulted in an additional 10,000 holiday arrivals to New Zealand in August, as... more
8 Sep 2015 Travel & Tourism
Article - BusinessDesk Smartpay forecasts second year of earnings decline By Tina Morrison Sept. 8 (BusinessDesk) - Smartpay... more
6 Oct 2015 Rugby
RWC 2015 Set to Welcome European Qualifiers Georgia and Romania can confirm their attendance this weekend Final placings likely to go... more
6 Oct 2015 Opinion
Gordon Campbell on the TPP deal reached in Atlanta If the TPP was the Rugby World Cup, the New Zealand team probably wouldn’t ... more
5 Oct 2015 Opinion
Column - Gordon Campbell Gordon Campbell on the TPP countdown, and Mary Margaret O’Hara While Australia and the US have... more
6 Oct 2015 Appointments
Article - BusinessDesk Sanford appoints Rob McLeod to board, seeks tie-up with Maori fisheries By Paul McBeth Oct. 6 ... more
23 Sep 2015 Appointments
Fonterra director Ian Farrelly replaces Ralph Norris on shareholders' fund board Sept. 23 (BusinessDesk) - Fonterra Cooperative... more
2 Oct 2015 Recruitment
'Close to zero' chance of another bum hire, says FMA's Everett Oct. 2 (BusinessDesk) - Financial Markets Authority chief... more