No sign of housing bubble
Real estate industry players say there are no signs of a housing bubble developing in Auckland despite the latest figures showing asking prices for homes in the region have hit record highs while the rest of the country heads backwards.
According to realestate.co.nz, the average asking price of an Auckland home in April was $568,820, up 1.7 per cent on March. Meanwhile the average price of a property for the whole of the country dipped 1 per cent to $423,832.
Real estate professionals caution the headline numbers should be taken with a pinch of salt, and the market is still in recovery.