The Real Estate Institute has joined the Reserve Bank in warning residential property investors not to have unrealistic expectations about continued double-digit increases in house prices.
Monday, July 28th 2003, 4:00AM
by The Landlord
The cost of having a mortgage fell further yesterday, as the bank cut interest rates again, but Real Estate Institute president Graeme Woodley echoed Governor Alan Bollard in urging caution.
"Don't get carried away with huge expectations of major capital gains," he said, predicting that house price rises in the next year would be under 10 per cent.
