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Harcourts MarketWatch June 2013
Harcourts MarketWatch June 2013
The massive shortage in the number of properties available to people desperate to buy continues to be the overarching theme of the property market. Property on hand in our biggest cities Auckland and Christchurch is down 16.7% and 21.7% respectively on the same time last year. Given supply was already low last May and demand has increased since then, the problem is only going to get worse.
The message remains the same. The supply and demand issue needs to be fundamentally addressed. Auckland’s rising house prices will only be stalled when restrictions around the development of multi-storey dwellings are relaxed to make it an attractive prospect for developers.
In Christchurch more investment is needed to expedite the rebuild and secure the city’s recovery. When the pressure eases in Auckland and Christchurch we will see a flow on effect throughout the rest of the country.
Hayden Duncan,
CEO
Harcourts New
Zealand
Full document with chart: June_2013.pdf
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