Despite slowing growth in the economy generally, the housing market remains in great shape, ANZ chief economist David Drage says.
Monday, July 7th 2003, 4:30AM
by The Landlord
The latest REINZ data revealed an unprecedented 11,000 house sales in May and the median house price rose to a record $210,000 – a rise of almost 12% over the past 12 months.
The ongoing strength of net immigration is continuing to create significant demand for housing.
In defiance of the tightening of entry criteria for new arrivals in late 2002, yet another new record of more than 42,500 people was seen in the 12 months to May, an increase of 36% on the same period last year.
