Thursday, May 16, 2013

House Prices in New Zealand v Gold, April 2013

In April, 2013, the gold ounce to house price ratio has moved in favour of property. It now takes 30 gold ounces more to buy the median priced Auckland house than it did in March, and 19 ounces more to buy a median priced house in New Zealand.

Auckland prices are back to February 2009 levels. Will they keep increasing against gold? Note that gold took a larger than expected (and justifiable) hit in April and the latest May figures for house prices in Auckland show weakness.

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