Shortage driving house prices up
New Zealand's booming housing market is being fuelled by a shortage of properties and is definitely not a bubble about to burst, according to the ANZ Bank.
Tuesday, September 9th 2003, 3:50AM
by The Landlord
The market would also be at risk of a major correction if short-term players dominated the market with the effect of keeping long-term investors away because of exorbitant prices. But there was little evidence of either of these cases unfolding in the New Zealand housing market.
This was because a sharp increase in demand from 2001 to 2002 had cleared surplus stock. This created a shortage that was expected to persist for some time, the bank said...
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| « Building stats show no ease in construction boom | Land boom puts heat on buyers » |
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