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
Greenfern Industries Limited (NZX: GFI) Releases Interim Results
Hallenstein Glasson Holdings Limited (NZX: HLG) Announcement of Final Dividend
26th November 2021 Morning Report
EROAD Limited (NZX: ERD) Accelerates Towards Next Phase of Growth
Green Cross Health Limited (NZX: GXH) REPORTS STRONG HALF YEAR PROFIT OF $9.7M
Stride Property Ltd & Stride Investment Management Ltd (NZ: SPG) Placement Size Increased Following Strong Demand
General Capital Limited (NZX: GEN) Announces Very Strong Growth
25th November 2021 Morning Report
Gentrack Group Limited (NZ: GTK) Annual Results for the Year Ended 30 September 2021
Pacific Edge Limited (NZX: PEB) Results for Six Months Ended 30 September 2021