Are you saving to a buy house?
Are you saving more than $1000 a week?
If not, you are going backwards:
House asking prices going up $1000 every week
Heightened confidence in the property market continues to raise people’s expectations about what they might get for their house, according to Trade Me Property. The website’s property price index, which tracks the asking prices of new residential property listings, shows the national average asking price jumped to $505,350 in the three months to February, up 12.3 per cent on the same period a year ago. “In other words, asking prices have gone up more than $1000 every week across the country over the past year,” said Nigel Jeffries, Trade Me’s head of property.
Don’t worry, there’s always renting:
Big rent rises ‘grim for tenants’
Auckland leads the way with median figure of $480 a week, up 6.7 per cent.
National rents have risen 9 per cent in the past 12 months, the biggest increase recorded in five years and “grim news for tenants”. Nigel Jeffries, head of Trade Me Property, has just released the data for the year to January showing the median weekly rent is $420. “The 9 per cent year-on-year increase in January is the largest single-month rise we’ve recorded over the past five years. “Median weekly rents clicked up $20 per week between December and January to a record high of $420 per week. That’s grim news for tenants,” Mr Jeffries said.
This can’t go on. It really, really can’t.