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

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news