Weekly insight 19.7

desperado1012

1. National median selling price was barely changed at $820k from May to June. Auckland median price reached $1.15m from last month of $1.148m. Some suggest the price surge has come to the end, but it is too early to say now.
2. Although the new rental-tax rule has halted the investor from purchasing houses, there is no sign that they have been selling. The main reason is the lack of listing and low pressure from low interest rates.
3. In Auckland, the median price for all houses is $1.15m, for townhouses is $1.02m, $820k for a unit and $879k for an apartment.
4. ASB increased the 1-year interest rate from 2.19% to 2.55%, others have increased the rate to 2.55% (20% deposit + move to bank) otherwise 3.15%.
5. Inflation was counted for 3.3% this year, opposed to the forecast of 2.7%. This doesn't include house inflation.
6. Cost of building a new house went up 7.4% for the year, 4.6% for the quarter.
7. Lack of listings also happened in Waiheke Island, which raises the price range to $4m - $5m
8. Housing is turning its nature from "Living Home" to "Property" as more than 1/4 of properties are belongs to investors.

songinator

good summary ...........................