New Zealand’s House Prices at 10-year high.
Whilst house prices in many parts of Europe and United States are still very sluggish, New Zealand is seeing its house prices hitting a 10 year high in November 2009. The sudden price surge has left economists shaking their heads. This month it has taken only 31 days to sell a house on average, compared to 33 in September
The increase estimated to have reached an annualised rise of 13.1% through a shortage of listings, low interest rates and rising net migration respectively.
Meanwhile the Governement is introducing its Entrepreneur Plus Immigration legislation- effective on November 30. It will grant fast track to residency to foreign would be business migrants willing to invest 500,000 NZ Dollars in their business and create at least 3 fulltime jobs. The most interest has come from USA, Britain, India, the Phillipines and Ireland.
From Sell Property:
Achieving a fast sale of a home is difficult in the current climate. If you know where to look it can still be done.
From immigration:
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From Erinn Schellin:
Is it really a good time to take a out a home loan right now? How do we know thehouse prices haven’t finished falling? Everyone I know is going into foreclosure!
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