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Major cities slowly turning up the heat in the housing market
Seasonally adjusted data shows that house sales have risen again by around 8% in the past three months, and this has been led by Auckland, along with Wellington and Christchurch. But sales isn't the only thing that's grown — the recent immigration boom has added extra pressure to Auckland's housing stock. Will falling new-house construction in a time of strong population growth result in property shortages in 2024?
What’s up with Australian House Prices and what does it mean for NZ?
Sydney has had a decline of 9.50% in property prices since they peaked in July last year, and Melbourne is not far behind with a drop of 5.80%. Technically anything more than 5% is considered a crash, so are Australian house prices really crashing and should we be worried in New Zealand?
