PHOTO: KEVIN STENT/STUFF Economist Brad Olsen, from Infometrics, said the property market seemed to be “barrelling on” even though the economic fundamentals were shifting.
Would-be sellers have not let a global pandemic dent the price they want for their houses, new data shows.
Property listings site Realestate.co.nz has released data for May, showing average asking prices have reached a record level in seven regions of New Zealand.
That is despite predictions that house prices could fall by up to 15 per cent this year as unemployment increases.
“There is a lot of speculation around post-lockdown property prices but average asking price highs in seven regions suggest that most vendors are still expecting high prices for their properties,” Realestate.co.nz spokeswoman Vanessa Taylor said.
She said traffic to the site was equal with that of February.
READ MORE VIA STUFF