Bellwether NZ housing starts hit in June Australia to follow
For retirement village sales the next three months is the crucial home sales period leading up to the November/pre-Christmas peak. They set the sentiment for village sales through to next Easter. So all eyes should be on New Zealand. According to...
For retirement village sales the next three months is the crucial home sales period leading up to the November/pre-Christmas peak. They set the sentiment for village sales through to next Easter.
So all eyes should be on New Zealand. According to Brian White, Chairman of Ray White, the NZ housing market is historically 12 months ahead of Australia when it comes to booms and busts. And the NZ market (outside of Auckland) is shaky. ANZ Bank economist Mark Smith says that basically NZ house approvals have flat lined for the first half of the year.
In June housing approvals took a hit, down 4.1% seasonally adjusted on May approvals.
Then last month here in Sydney homes selling by auction dropped 9.1% in value. The senior economist with Domain Group Dr Andrew Wilson (pictured) said the market is clearly on the turn.
Our prediction however is that village sales will hold up for the medium term because not enough new stock is being built about 2,600 new units this year which is small compared to the population growth aged 75+. Prices should hold up too if salespeople dont lose their nerve. What do you see in your local market?
