Boom not over - REINZ
Real Estate Institute denies claims property boom is over but is advising caution as interest rates continue to rise
Sunday, September 19th 2004, 8:33AM
by The Landlord
The Real Estate Institute is bristling at suggestions the property boom is over.
At least one economist has made such a declaration, based on the latest figures which show the median house price fell in August to $247,000.
But Institute president Howard Morley says he cannot see anything supporting that view in the way he reads the statistics.
He says prices are holding, although there has been a fall off in the volumes of real estate being sold.
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