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Housing turnover in New Zealand is “strengthening” (National Bank of NZ)

23 June, 2011

“There are signs that housing turnover is strengthening, which usually precludes a pick-up in house prices and consumer spending. We’re not convinced we’ll see prices move far anytime soon but the volume boost is welcome. We’re paying close attention to section sales as they lead building consents, and section sales have risen to their highest in nearly a year. It’s a key barometer to watch to see if this momentum is sustained over the coming months. While the recovery is from low levels and characterised by regional differences, the housing market is moving in the right direction. A similar recovery is underway in the rural property market.” Read this and other articles related to the New Zealand property market here http://www.nzpbi.co.nz/welcome-to-your-nz-property-investment-resource You can also find useful resources about the NZ property market, and some investment opportunities, on this site.

This reputable bank report is consistent with other recent positive news (including the BNZ Real Estate Overview) about the prospects of  New Zealand and the NZ property market.

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