Friday, March 16, 2012

New Zealand House Prices Steady Against Gold

NZ House Prices in Gold Ounces as at end of February, 2012

House prices in New Zealand, as measured in gold ounces, have remained relatively static since August, 2011.

Again, I reiterate that it is difficult to get a handle of what is actually happening. The figures are produced by the Real Estate Institute and a majority of the articles in the main stream press here are produced by property investor and real estate insiders.

Even using the median as a keystone is fraught with difficulty. Especially the fact that the median can be skewed heavily by sales in the top end of the market.

Nevertheless, the last few months have seen a flattening. Will house prices go up against gold or down from here?

Gold in New Zealand dollars: $2021.33 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $39.59 per oz
Previous all-time high: $59.19
per oz (30 Apr, 2011)

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