News

New Zealand Housing Market Shows Sign of Improvement in March

News

  • New Zealand housing market shows sign of improvement in March with index rising 3 pct in year to March
  • The index is up 0.5 pct over the past three months but is still 3 pct below its peak in late 2007
  • Christchurch prices were up 1.1 in last quarter to rise 4.1 pct y/y
  • The average sale price over the three months to March was around NZ$402,317 or $ 329,768 per unit

Quotes

   "Activity levels have been bolstered by first home buyers having enough confidence to enter the market, while some existing home owners are now ready to make a move they may have been delaying for several years,"

- Jonno Ingerson, QV research director

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