Junes Housing Report 2007

The average NZ Housing sale percentage has gained margianl growth in major areas so some slightly significant gain in other area's. The NZ Herald are saying that the recent interest rate hike put in place suddenlly by Alan Bollard a month ago hasn't detered housing sales. My belief is to match that to July's ratio as a comparison as many sales would've been in play during June. But don't see too much of a difference as it's just putting higher repayments on to the home owners. Auckland central saw a marginal gain of 5% which albeit is a fair expectation seeing tho there are many studio, 1 to 2 bedroom apartments keeping the average down as there are a larger number of them. There are several projections for a future housing boom coming in between the years 2010 and 2015 where the first wave of baby boomers will be set and ready to retire. The projection is that we will need an influx of immigrants and returning ex-pats to make up the gap in the NZ economy and are largely expected to settle for inner city living to get the feel of the land before moving to the outer suburbs. Most expats will be returning take up inner city living as it's mostly what they are used too coming back from the likes of the UK as an example.