Monday 11th August 2008 |
Text too small? |
The average property price fell 2.2% in July after gaining just 0.1% in June, according to Quotable Value, the government valuation agency.
“The question has now changed from when will prices stop rising to when can we expect to see them stabilise,” said Blue Hancock, spokesman for QV Valuations. Many sellers are now “accepting the state of the market and dropping their expectations accordingly.”
The QV report follows government figures that showed home building consents tumbled 20% in June, adding to evidence the housing market is contributing to a weakening economy. Many economists predict the central bank will cut its official cash rate at every opportunity this year to stoke an economy that probably shrank in the first half.
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens