Even though there is less activity in the market place house price growth continues to increase.
Latest reports show the average Auckland house price has now topped 1 million.
Quotable Value,s House Price Index revealed the Auckland region average values stood at $1,013,632.00 in August up 15.9 %on the previous year and 6.1% over the last 3 months.
Average value of a New Zealand home rose 15% from the previous year to $612,527.00 in August still slower than the 16 % gain in Auckland,
Values are 85.5% higher than their previous peak of 2007.
Record migration ,investor demand and low interest rates have bolstered this hugely and they still keep talking about affordable housing.
The cost of building is not coming down it is going up and will continue to do so with the current and future demands the industry has ahead.
Please click onto the attached article to read more average-auckland-house-price-tops-1m-yahoo-new-zealand
It was announced yesterday that Northcote in Auckland will see a massive building development taking place in the very new future.
300 Housing New Zealand properties will be replaced by 400 new properties and up to 800 other homes with a mix of affordable housing and market housing.
The development is said to be worth 750 million with the first properties to be completed by June 2017 and the entire development completed by 2021.
The government is doing this to address criticism of the plights of the homeless people and people in the low income bracket who would currently qualify for state owned housing.
This will supply an abundance of work for Auckland tradesmen and the demand for tradesmen shows no signs of slowing down for years to come which is great news for the industry .
To find out more please click onto the attached article
massive-new-housing-project-in-northcote-yahoo-new-zealand
