Wellington Property Sells For $4.55 million

A Wellington property sold for $4.55 million.

Home sells for $4.55m - down from $10m | Stuff.co.nz

A central Wellington property has sold for less than half its original $10 million asking price, but agents say there is no sign that the top end of the market is collapsing.

Publish Date: 07/15/2010 3:00

http://www.stuff.co.nz/business/personal-finance/3919810/Home-sells-for-4-55m-down-from-10m

New Zealand Housing Market In June 2010

New Zealand house prices were up, but house sales were down in June

XE.com - NZ house prices up, sales down in June - REINZ

WELLINGTON, July 14 (Reuters) - New Zealand house sales were weak while prices increased in June, the Real Estate Institute of NZ (REINZ) said on Wednesday. Sales by the industry group's members were down 12.1 percent from May and were ...

Publish Date: 07/14/2010 8:27

http://www.xe.com/news/2010/07/13/1271189.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art4

REAA Head Quits As Real Estate Watchdog

The head of the new Real Estate Agents Authority (REAA) has quit seven months after it began its watchdog role...

Property News | NZ real estate watchdog quits

The head of the new Real Estate Agents Authority (REAA) has quit seven months after it began its watchdog role...

Publish Date: 07/08/2010 0:19

http://www.themovechannel.com/news/8ebf6776-00ca/

NZ Housing Market "Way Overpriced" Says Finance Minister

New Zealand Finance Minister Bill English is of the opinion NZ house prices are over valued.

Property News | NZ property 'way overpriced'

NZ property 'way overpriced'. Wednesday, July 07, 2010. Catherine Deshayes. New Zealand's housing market is "still way overpriced" by international measures and is likely to struggle for some time, says Finance Minister Bill English. ...

Publish Date: 07/08/2010 0:18

http://www.themovechannel.com/news/9852a506-f2a2/

Asking Prices Hold Firm Despite Slow House Sales

New Zealand home owners seem reluctant to reduce their asking price when selling their biggest asset, despite slow real estate sales in most areas.

A recent New Zealand Property report revealed the average asking price in June 2010 rose slightly by $2,709 to $410,058. This is despite a rising supply of unsold houses in many towns across the country. The supply of unsold houses is at 45.3 weeks, although this does represent a drop of 1.7 weeks on the previous month.

The major cities showed up better than provincial New Zealand towns. Overall house listings are up 16% in June 2010 when compared with June 2009.

Major Bank predicts Real Estate Sales Volumes And House Prices To Remain Subdued

Major Bank Westpac has come out with a comment on the state of the current New Zealand housing market.

Rents will rise as house prices fall, says Westpac

Move To New Zealand ... House prices will fall gently for the next two years before levelling out, but rents will rise because property investment is now returning less because of the October personal tax cuts, says Westpac in its latest housing market update. And while residential property sales may pick up a little in coming months as some property investors reorganise or quit the market, Westpac expects several years of subdued sales volumes and prices. ...

Publish Date: 07/02/2010 13:51

http://www.movetonz.org/forum/locations-properties/10318-rents-will-rise-house-prices-fall-says-westpac.html

Private Investors Eye Housing New Zealand Stock

Housing New Zealand Opens Its Doors To Private Investors | Voxy.co.nz

Housing New Zealand Opens Its Doors To Private Investors. Few are now talking about the changes to tax on residential property investment which is understandable as the government has done just enough to keep opposing sides happy. -1.

Publish Date: 06/29/2010 14:41

http://www.voxy.co.nz/business/housing-new-zealand-opens-its-doors-private-investors/1071/53530