Friday, August 30, 2013

House Prices in Auckland only a 'Solid' Return

Largest Auckland real estate firm says 78% house price growth in Auckland in the past 10 years only a 'solid' return.

Auckland's largest real estate firm Barfoot & Thompson says price gains in Auckland over the past 10 years "have not been spectacular" and have offered investors only a "solid" return.

The firm, which accounts for around 40% of Auckland house sales, has done an "in-depth analysis" of the average sales price of three-bedroom Auckland properties. Three bedroom homes were chosen for the analysis as representing the sized house most commonly bought and sold.

According to calculations this works out at a compounding growth rate of 5.94% a year.

For comparative purposes B&T used the NZX Asset Class Performance Report, showing annual returns for 10 years to June 2010.  It showed that listed property returned 8.3%, corporate bonds 7.4%, government bonds 6.9%, NZ cash 6% and NZ shares 5.8%.... more

Comparison: if it is all about wealth preservation and return combined, then here are some other figures:

10 year silver : up 15% for wealth preservation and return
10 year gold: up 11% for wealth preservation

Gold in New Zealand dollars: $1816.21 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: $30.81 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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