Property prices fall but Sales increase...........July
http://www.sharechat.co.nz/article/a...ing-again.html
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Property prices fall but Sales increase...........July
http://www.sharechat.co.nz/article/a...ing-again.html
Auckland's housing market no longer flatlining as new data shows prices are actually falling....................
https://www.nzherald.co.nz/business/...ectid=12256048
Property valuations are all based upon previous comparative sales value.
Very nice on the way up for the sales people ('Buy as prices are going up and you will miss out' to the buyers) but extremely painful for the house owners on the way down ('Real market is going down, you better sell quick' to the sellers).
So it's going to be down for another 4 years imo.
Some big numbers going through SUM today. Things must be gearing up as this month we find out how they are performing.
Now growing as slow as that other dog starting with A... shows you how lofty the valuation was nearly touching $8 odd... operating cash flows barely up, and Available new sales uncontracted stock at the highest point in 5 years - not a good metric to be at the highest point in 5 years (and that is despite pulling back big time on new builds)... gearing ratio up as well (at a record level?)
Alot of negatives on slide 4