Expert tips housing boom to keep rolling
One of New Zealand's leading real estate lecturers believes Taranaki's buoyant property market will continue to remain strong.
Wednesday, May 4th 2005, 7:43AM
by The Landlord
Graham Crews, Massey University's senior lecturer in real estate, said the massive rise in median house prices throughout the region was reflective of the strong rural economy."For a long time New Zealand suffered from a malaise in the provinces that was long lasting," he said.
"If you look over the last four years and look at the key ingredient – it was the rural economy – record prices and the low dollar, that's what has kicked off the latest boom.
"From there, it was job growth and confidence in middle New Zealand, and the rural economy has stayed strong. You look at Taranaki and there is energy, tourism and investment growth; it's almost as if we're back in the 50s and 60s again."
Mr Crews said it was not just Taranaki that was experiencing the effects of the property boom.
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