House prices surge ahead | BUSINESS | NEWS | tvnz.co.nz
New Zealand house values posted their highest rate of growth in 2005 in December, reflecting a buoyant property market, government agency Quotable Value says.
The Quotable Value house price index rose 15.8% in the year to December, rising from 15% the previous month and 14.5% in October.
'We are still seeing increasing levels of growth in property values across most areas of the country, particularly in regional areas which continue to offer affordable housing and investment options,' QV spokeswoman Glenda Whitehead says."
The Reserve Bank, citing concerns over inflation pressures stemming from the housing sector, raised interest rates in December for the second consecutive time to 7.25%.
I have to wonder if this is the boom before the bust for New Zealand.
The Quotable Value house price index rose 15.8% in the year to December, rising from 15% the previous month and 14.5% in October.
'We are still seeing increasing levels of growth in property values across most areas of the country, particularly in regional areas which continue to offer affordable housing and investment options,' QV spokeswoman Glenda Whitehead says."
The Reserve Bank, citing concerns over inflation pressures stemming from the housing sector, raised interest rates in December for the second consecutive time to 7.25%.
I have to wonder if this is the boom before the bust for New Zealand.
posted by Paul Johnson at 1:02 am
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