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House prices at peak, says property broker
http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11747889
The property market is at its peak, says Property Brokers Hawke's Bay manager Paul Whitaker.
He said while prices were strong and demand high, he could see an end to the market surge as the number listings increase and prices flatten.
"I think we are at the height of it right now," he said.
"If you are looking at selling you need to consider interest rates have bottomed out, investors have been hit with deposit restriction and more stock is coming on to the market. All three factors will make it soften a little bit.
"I personally think if you are thinking of selling and you want to get out you should do it now because after Christmas it could be too late.
"We are still seeing fierce competition but we expect it to taper off, rather than continue to rise."
According to REINZ figures real estate sales volumes fell 9 per cent in October compared with September.
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