Friday, September 16, 2011

House Prices Decrease in New Zealand

An update on the New Zealand house price situation as compared to gold ounces.

You might remember from last weeks blog, that the figure for July, 2011 was that house prices, as compared to gold, decreased by a staggering 60% since the May, 2005 peak.

The figures for August are in and the decrease is a further 5% to 65%. So, if you sold your house in May 2005 and purchased gold ounces, then today, you could buy back nearly three houses at the median price.


     
Gold in New Zealand dollars: $2154.67 per oz
Previous all time high: $2284.16 per oz (19 Aug, 2011)

Silver in New Zealand dollars: $48.06 per oz
Previous all time high: $59.19
per oz (30 Apr, 2011)
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The Anglo-Far East Company
The Original Private Gold and Silver Bullion Custodian
Your reference: an-001
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