Wednesday, July 10, 2013

House Prices in New Zealand v Gold, June 2013

In June, 2013, the gold ounce to house price ratio has moved in favour of houses. However, I think this is simply a timing issue with the figures at the end of June. Especially as gold was at a bottom. This not to say that I'm trying desperately to see gold doing well. You will notice that the median house price in Auckland is down 2% according to the REINZ website (although you wouldn't know it if you read the local news).

It now takes 38 gold ounces more to buy the median priced Auckland house than it did in May, and 32 ounces more to buy a median priced house in New Zealand.

We are back to December 2009 in house values (or March 1996).




Gold in New Zealand dollars: $1593.50 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)
Low since previous high: $1532.30 (28 June, 2013)

Silver in New Zealand dollars: $24.57 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
Low since previous high: $23.51 (28 June, 2013)
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