House Prices Flat - Wellington region property values are 3.2% up on last year and 5% below their early 2008 peak*.  Prices are expected to continue to be static, and in areas decline, over the short term though beyond this New Zealand’s growing housing shortage is expected to cushion and lead to some mild recovery next year.  Annual residential building consents are currently just 16,167, 33% below the ten year average and well below the 23,000 level calculated as necessary to meet population changes**.  

Now is a good time to move up the property ladder (they certainly are here in Aussie)!  If you, a friend or workmate want to know where your property sits in the market, get in touch for a no-obligation and free market opinion at www.leoniesnook.com.

* Quotable Value Residential Price Index – 3 months to July
** BNZ Weekly Overview

Leonie Snook, Top Wellington Real Estate Agent Harcourts