In the month since Reserve Bank governor Alan Bollard raised the official cash rate to 3 per cent, the financial market has changed its collective mind about whether he will hike again around the middle of next month. The probability of another OCR rise on September 16, as reflected in swaps market pricing, has fallen [...]
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Softly Does It
North Wellington Market Update – August 2010 The market is going through a softening period currently but we are hoping that as the weather warms up again and the economy continues to slowly recover, we will again see a firming of prices in the area. The market currently is characterized by inactivity both at the [...]
Continue →Quiet Housing Market Predicted for next few months
Economists are predicting the housing market will stay soft for the rest of the year after Real Estate Institute data showed sales volumes stayed under pressure last month. By Paul McBeth Total residential sales sank to 4,575 last month from 5,206 in May, and 6,040 in June last year. That’s only the second time in [...]
Continue →A mixed bag for Wellington house market – Quotable Value
Property values in the Wellington region increased by 5.4% over the past year (calculated over the three months ending June 2010 in comparison to the same period last year), down on the 6.0% annual growth reported in May. The average sale price for the region increased marginally from $454,625 to $455,134. Mr. Pieter Geill of [...]
Continue →Rents on the rise in Johnsonville/ Newlands
The latest figures out from the Tenancy Services website shows rents rising on all property sizes in the Johnsonville/Newlands area with good numbers of properties being tenanted. Though anecdotal evidence suggests that there is a build up of vacant properties across Wellington with more than 1100 properties for rent on Trademe currently, average rents don’t [...]
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