Housing market price divergence to slow
Auckland house prices have been going vertical while those in other regions have been stagnating, according to Westpac’s latest Home Truths report.
Quoting June’s REINZ data, the report notes that Auckland house prices rose 20% between September 2014 and June 2015.
In comparison, house prices changed by 4% in Wellington, -1% in Christchurch and by between 3% and 7% outside of the three main centres.
While this price divergence is spectacular, in the report Westpac’s chief economist Dominick Stephens says he suspects things are about to change.
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