Don't get caught out in this rapidly changing property market!
Wednesday 23 May 2007, 8:34PM By
Property trend research released by SuburbWatch today indicates the property market is rapidly changing with a Ã¢â‚¬Å“significant shift to property price growth trends in parts of Auckland revealing a rapid deterioration in price growth trends for 20% of Auckland suburbs. This signals a softer Auckland property market is in store in the near future.Ã¢â‚¬Â says property market analyst, and SuburbWatch Director, Kieran Trass
* AUCKLAND - Latest trends indicate the real potential for property value declines in the short term in 1 out of 5 Auckland suburbs. So in the short term at least it is now a bad time to buy property in these specific suburbs. However in the remaining 4 out of 5 suburbs it's still a good time to either buy or hold property because trends in these suburbs indicate values are still highly likely to increase further in the short term and in some cases by over 10% p.a. on an annualised basis.
* CHRISTCHURCH Ã¢â‚¬â€œ Latest trends reveal Christchurch (like Auckland) is experiencing a
shift to property price growth trends with less than half of Christchurch
suburbs now indicating it is a good time to buy. Other suburbs are showing
the potential for a real deterioration in their property price trends.
SuburbWatch (an internet based property price trend analysis system) launched last month is based on the in-depth analysis of property price trends in suburbs in Auckland, Wellington and Christchurch over the last 15 years. SuburbWatch is the brainchild of property market analyst, and author, Kieran Trass.
The SuburbWatch system www.SuburbWatch.co.nz currently displays one free 'live' example suburb, St Albans in Christchurch for visitors to view and see how the system works.