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

 

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news