Property Update for the week ending Sunday 23 November

Despite predictions of doom and gloom for the New Zealand residential real estate market, October sales figures released by the Real Estate Institute of New Zealand recently show a rosier picture. Vice President Peter McDonald says that a year ago, financial commentators were predicting a 30 percent fall in residential property values, but our figures show an overall decrease of just 4.28 percent from a year ago.

This excerpt was taken from a recent Real Estate Institute report that highlighted the fact that, statistically, our real estate market remains to be in good shape despite the turmoil happening around the globe.

Naturally, there are going to be some regional and local variations to the above statistic. But nevertheless, this national statistic is still the best yardstick in order to gauge the status of the market due to the larger, and therefore more reliable data set. So, if you are considering buying, one, take heart, and two, do check out this weeks range of quality property from the team at JVL. Have a good week.