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

 


Property prices drive consumer confidence in Auckland

Property prices drive consumer confidence in Auckland

Jan. 17 (BusinessDesk) - The hot property market is making consumers more confident in Auckland and they expect house prices to rise more in the next two years.

That is according to the ANZ-Roy Morgan NZ consumer confidence survey for January, which otherwise shows a mixed picture nationally.

The national headline consumer confidence index firmed to 118.3 in January from 114.7 in December but when seasonally adjusted eased to 112 from 115.
In Auckland, the index rose six points to a 2.5 year high.

"You will need to look no further than the sharp lift in the property prices for the reason of renewed enthusiasm in Auckland, though we note house price expectations in New Zealand's largest city were unchanged" Cameron Bagrie, chief economist at ANZ, said.

Still, house price expectations are the highest in Auckland, with a 4.4 percent lift in prices expected in the next two years.

Confidence levels in Wellington and Canterbury were weaker in January.
Nationally the future conditions index was unchanged at 119 and the current conditions index lifted eight points to 117. The current conditions index in Auckland was at a five-year high.

A net 38 percent of respondents believed it was a good time to buy a major household item, the highest reading since 2007.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news