Harcourts MarketWatch National Property Overview Nov 2012
Harcourts MarketWatch National Property Overview
With house prices continuing to rise 12.2% nationally, buyers still hang in hope of relief but as the government fails to provide a detailed solution for them, frustrations grow. Where is the proactive solution to affordable housing for those buyers now reported to be door-knocking out of desperation for a home? A rise in residential dwelling consents and listings in Auckland and Christchurch will not abate the supply vs. demand issue prevalent in these centres. This is an issue not ready to go away as red tape and process stifle progress. Publicity around auctions grows as sellers’ preferred method of sale and this is reflected in a 33.7% increase in new auctions across the country making for an active sellers’ market.
Hayden Duncan, Harcourts New Zealand, CEO