REINZ data on housing mkt to May
 

extract:

Sales were up from 8,876 in April to 9,280 in May, close to the May 2004 figure of 9,416 sales, which Mr Morley described as “a remarkably solid effort for this time of the year when we enter the typically quiet winter months.�

Nine out of the 11 regions surveyed experienced price increases, some quite spectacular, during the month. However Mr Morley said some of the apparent big jumps were more a reflection of the traditionally softer April market where sales in some regions were well down, skewing some median sales figures.

report: http://www.reinz.co.nz/reinz/index.c...4-D860CE6D8F81

Re: REINZ data on housing mkt to May
 

Hmmm, I'm a bit disappointed in Dunedin http://www.reinz.co.nz/marketfacts/g...=11&btnGo.y=15 :mad:

Re: REINZ data on housing mkt to May
 

Our house in Rotorua has gone up hugely - had an estate agent ring today as they have some folks who want to buy ours for somwherein the $600,000 's- we paid $380 ,000 for it 2 years ago?? Huge increase - as are all the houses in this area and Lynmore. Hope it doesn't go as crazy as the UK :(

Re: REINZ data on housing mkt to May
 

On some counts NZ is already crazier, specifically average house prices as a ratio to average earnings, which in NZ are something like nine to ten times whereas in the UK 'only' 5 to 6 times.