Monday 6th October 2008
|Text too small?|
The average price fell, possibly reflecting the global credit crisis, according to real estate firm Barfoot & Thompson.
The firm had 559 sales in September, up from 502 in August. The average price slipped to NZ$495,873 from NZ$524,248 in the previous month, it said in a statement.
"The number of new listings coming on board generally increases at this time of year as the weather warms and vendors' properties are looking their best," said managing director Peter Thompson.
Barfoot & Thompson added 1,263 new properties to its listings last month, up 17% from August, though down from a gain of 1,543 in September 2007. The central bank has cut its official cash rate by 75 basis points to 7.5% since July and is forecast to cut the rate by another 50 basis points this month, economists predict.
Still, the impact on mortgage rates may be muted initially, as banks tend to fund their loan books from funds sourced overseas.
No comments yet
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto