By Steve Hart
House hunters who are unable, or unwilling, to pay sky-high prices for Auckland real estate are driving property prices up in the regions, according to the Real Estate Institute.
Colleen Milne, the organisation’s CEO, is calling it the halo effect as some first-time buyers and investors snap up property in the Bay of Plenty and Waikato. Otago is also seeing price rises, which could be down to empty nesters leaving the Super City and investors spreading their bets.
Stats released by Milne this week reveal that September saw New Zealand’s median price jump to a record $484,650, a 15 per cent increase on the same time last year, and more than 4 per cent up on August…
Many Australian cities have experienced the same property booms as Auckland. However, analysts at Macquarie are forecasting a 7.5 per cent drop in house prices across Australia starting in March next year. They expect prices to start recovering in June 2017…
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