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With the latest house price data performing well some people may be getting excited about house and section price prospects (e.g. the REINZ median dwelling price in December 2009 was up 10.8% on the trough level in January and 2.3% on the previous peak level in November 2007).
The number of farms sold in the last few months of 2009 was well down on previous years, says the Real Estate Institute of New Zealand. REINZ says 241 New Zealand farms were sold during the thee months to December 2009. 753 were sold during the same period in 2007, and 346 in 2008.
House prices have hit an all-time high but economists remain sceptical, saying higher mortgage interest rates are dampening the market.
New Zealand inflation was probably unchanged in the fourth quarter, reflecting a drop in food prices, which may help convince the Reserve Bank to hold off on raising interest rates until April.
House prices rose a modest 1.4 per cent in December, but ended the year nearly 10 per cent up from the year before.
Property sales plunge in January
15 Feb 10
