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Mixed outlook for urban property markets

While things are looking bright for the Auckland residential property market in coming months, confidence has softened in both Wellington and Christchurch.

Wednesday, July 21st 1999, 12:00AM

by Paul McBeth

While things are looking bright for the Auckland residential property market in coming months, confidence has softened in both Wellington and Christchurch.
The latest quarterly surveys by Massey University's Real Estate Analysis Unit show:
  • A positive outlook for Auckland's property market over the next three months. Numbers of house sales and price levels are expected to stay the same or increase across the market. However, any rise in house prices should be modest because of a reasonable flow of property listings and the high levels of household debt.
  • In Wellington, the outlook only remains positive for houses in the low and medium price ranges. For sections, units or apartments and higher priced housing, the vast majority of those people surveyed expect no change in prices or even a decline.
  • Confidence is also lower in Christchurch and, like Wellington, the outlook is strongest for low and medium priced housing. Most people surveyed expect sales volumes and prices for sections, units or apartments and higher priced housing to stay the same over the next quarter.

    • The survey results are based on questionnaires completed in each city by local real estate market experts including bankers, solicitors, estate agents, valuers and property analysts. The Real Estate Analysis Unit says that panelists have, in the past, predicted the correct direction of changes in sales volumes "with a high level of accuracy".
    How residential property markets are expected to perform over the next six months:
    City Stay the same Improve Deteriorate N/A
    Auckland 41% 59% 0 0
    Wellington 65% 26% 9% 0
    Christchurch 58% 34% 4% 4%

    Paul is a staff writer for Good Returns based in Wellington.

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    Mortgage Rates Table

    Full Rates Table | Compare Rates

    Lender Flt 1yr 2yr 3yr
    AIA - Back My Build 5.44 - - -
    AIA - Go Home Loans 7.99 5.99 5.69 5.69
    ANZ 7.89 6.59 6.29 6.29
    ANZ Blueprint to Build 7.39 - - -
    ANZ Good Energy - - - 1.00
    ANZ Special - 5.99 5.69 5.69
    ASB Bank 7.89 5.99 5.69 5.69
    ASB Better Homes Top Up - - - 1.00
    Avanti Finance 8.40 - - -
    Basecorp Finance 9.60 - - -
    BNZ - Classic - 5.99 5.69 5.69
    Lender Flt 1yr 2yr 3yr
    BNZ - Mortgage One 7.94 - - -
    BNZ - Rapid Repay 7.94 - - -
    BNZ - Std 7.94 5.99 5.69 5.69
    BNZ - TotalMoney 7.94 - - -
    CFML 321 Loans 6.20 - - -
    CFML Home Loans 6.45 - - -
    CFML Prime Loans 8.25 - - -
    CFML Standard Loans 9.20 - - -
    China Construction Bank - 7.09 6.75 6.49
    China Construction Bank Special - - - -
    Co-operative Bank - First Home Special - 5.79 - -
    Lender Flt 1yr 2yr 3yr
    Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
    Co-operative Bank - Standard 7.65 6.49 6.25 6.19
    Credit Union Auckland 7.70 - - -
    First Credit Union Special - 6.40 6.10 -
    First Credit Union Standard 8.50 7.00 6.70 -
    Heartland Bank - Online 7.49 5.65 5.55 5.55
    Heartland Bank - Reverse Mortgage - - - -
    Heretaunga Building Society ▼8.60 6.75 6.40 -
    ICBC 7.49 5.99 5.65 5.59
    Kainga Ora 8.39 7.05 6.59 6.49
    Kainga Ora - First Home Buyer Special - - - -
    Lender Flt 1yr 2yr 3yr
    Kiwibank 7.75 6.89 6.59 6.49
    Kiwibank - Offset 8.25 - - -
    Kiwibank Special 7.75 5.99 5.69 5.69
    Liberty 8.59 8.69 8.79 8.94
    Nelson Building Society 8.44 5.95 6.09 -
    Pepper Money Advantage 10.49 - - -
    Pepper Money Easy 8.69 - - -
    Pepper Money Essential 8.29 - - -
    SBS Bank 7.99 6.95 6.29 6.29
    SBS Bank Special - 6.15 5.69 5.69
    SBS Construction lending for FHB - - - -
    Lender Flt 1yr 2yr 3yr
    SBS FirstHome Combo 5.44 5.15 - -
    SBS FirstHome Combo - - - -
    SBS Unwind reverse equity 9.75 - - -
    TSB Bank 8.69 6.49 6.49 6.49
    TSB Special 7.89 5.69 5.69 5.69
    Unity 7.64 5.99 5.69 -
    Unity First Home Buyer special - 5.49 - -
    Wairarapa Building Society 8.10 6.05 5.79 -
    Westpac 8.39 6.89 6.39 6.39
    Westpac Choices Everyday 8.49 - - -
    Westpac Offset 8.39 - - -
    Lender Flt 1yr 2yr 3yr
    Westpac Special - 6.29 5.79 5.79
    Median 7.99 6.02 5.79 5.69

    Last updated: 20 November 2024 9:45am

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