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Moody’s Investors Service says that the poor state of housing affordability in Auckland — despite a recent improvement driven by rising incomes and low interest rates — is credit negative for New Zealand covered bonds. “Rising household incomes and record low interest rates have prevented a deterioration in housing affordability in New Zealand over the …
Continue reading “Moody’s: Housing affordability in Auckland remains poor, despite improvement”
The average home sale prices in Auckland fell 1.1% and reached NZ$933,130 in November, according to the Barfoot & Thompson. “Signs the rate of price increase has been slowing have been there for some months but November’s sales data confirms that for the time being at least, Auckland prices have stopped rising,” said Peter Thompson, Managing …
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The annual value of building consents for new homes has reached NZ$10 billion for the first time, according to the figures from Statistics New Zealand. In the 12 months to August 2016, 29,627 new homes were consented, with a total estimated value of just over NZ$10 billion. The number increased 14 percent from the August …
Continue reading “Building consents reach highest level in New Zealand”
