Housing market still in the doldrums
Housing market still in the doldrums
The housing market remains in the doldrums after rebounding earlier this year, but the rate of decline for property values appears to have stabilised, according to valuer QV.
Property Market
Minimal impact from fall in values
Minimal impact from fall in values
A drop in Central Otago property values in the past three years is unlikely to have a dramatic impact on rates bills.
Prices steady, but rural property market still slow
Prices steady, but rural property market still slow
The rural property market continues its lacklustre performance of recent months, with the number of properties sold in the three months to October 31 less than half that of two years ago, although the median price remains steady.
Property company changes `rushed'
Property company changes `rushed'
Investors caught up in the Government-introduced changes around property company structures are being urged to remain patient.
Farm sales drop
Farm sales drop
Otago farm prices and the number sold ave fallen to less than half what they were in 2008, mirroring the national trend, according to Real Estate Institute of New Zealand figures.
Buyers 'more cautious'
Buyers 'more cautious'
While Queenstown real estate agents were "surprised" by the low number of sales in July, Queenstown was "arguably" fairing better than the rest of New Zealand overall, Real Estate Institute of New Zealand Queenstown spokesman Adrian Snow said.
Tax changes unlikely to hit property in resort
Tax changes unlikely to hit property in resort
The investment property market in Queenstown is unlikely to be damaged by the tax changes rolled out as part of the Government's 2010 Budget, REINZ Queenstown spokesman Adrian Snow said.
Property values 'static' ahead of Budget
Property values 'static' ahead of Budget
The Government's upcoming Budget announcements are thought to be causing uncertainty and "static" residential property values in the Otago real estate market.
Commercial property to remain 'flat'
Commercial property to remain 'flat'
The southern commercial property market is expected to remain "flat through 2010" as it mirrors the national trend of clawing its way out of the recessionary trough.