Thursday, December 12, 2013

House Prices in New Zealand v Gold, November 2013

A movement in favour of houses in November 2013.

It now takes 12 gold ounces more (379) to buy the median priced Auckland house than it did in October. It now takes 5 ounces more (260) to buy a median priced house in New Zealand.

Note that while house prices are going bananas, there has been a slowing of late. Maybe the Reserve Bank first home buyer LVRs are kicking in. But we also note that prices are only half-way to their highs against gold in May, 2005 even though they are really high in fiat money terms right now ie. house prices would have to be around a $960,000 dollar median now if you wanted the same purchasing power now in dollars as with gold in 2005.





Gold in New Zealand dollars: $0000.00 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: $00.00 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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