Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Solid Market Predicted to Continue in 2005

Solid Market Predicted to Continue in 2005

Summarising the past year in real estate and the year ahead, CEO of Harcourts New Zealand, Bryan Thomson has predicted in the latest issue of Harcourts MarketWatch newsletter a solid market at existing prices in the first half of 2005 and the suggestion of an upward growth curve in the latter part of the year.

Mr Thomson said, “2004 is soon to become history, however, just prior to signing off and putting suits and ties away for a couple of weeks of relaxation, it is worth pausing to reflect on the year. From a purely statistical point of view, the market across the country saw fewer property sales achieved than last year. However, prices remained solid in almost every case, and in premium areas continued to escalate, although at a slower rate than 2003. Competitive interest rates also contributed to buying confidence.”

He emphasised that, “Many commentators spent the year predicting doom and basing their statements on comparisons against 2003 which was without a doubt, a record year throughout New Zealand. This argument is clearly flawed and these commentators need to reflect on the research they do prior to making such statements throughout 2005 to maintain credibility.”

Looking towards 2005, Mr Thomson noted, “I tend to agree with the more balanced commentators in the market who see a solid real estate market at existing price levels, with premium locations continuing to attract some increases throughout the first half of the year. Later in 2005, with a continued strengthening employment market, I wouldn’t be surprised to see another upward growth curve in the property market.”

In summary, he advised, “If you own one property, buy another. If you already own several, do the same. New Zealand real estate is still the best investment in the world.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>