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30 Mar 2024 0:07
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  •   Home > News > Business

    The housing shortage has driven property prices up to an all-time high

    The housing shortage has driven property prices up to an all-time high


    Real Estate Institute stats show nationwide prices shot up by 8.6 per cent in the last year.

    Meanwhile, fewer people are selling - and listings have dropped by 1.9 per cent.

    Institute Chief Executive Bindi Norwell says more people want to buy while interest rates are low.

    She says people are having to pay more to secure properties, because supply isn't meeting demand.

    © 2024 Newstalk ZB, NZCity

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     29 Mar: Another pay offer is on the table for Police - after union members labelled the last one insulting
     28 Mar: Local councils are being challenged to back up rising debt with infrastructure revenue
     28 Mar: Employees are being reminded to know their rights and responsibilities this Easter
     28 Mar: The price gap between new builds and existing properties is starting to narrow
     27 Mar: A Bill passed in Parliament today will bring changes to the bright line test
     Top Stories

    RUGBY RUGBY
    The Chiefs are backing young first-five Josh Jacomb to step up in tonight's Super Rugby clash against the Crusaders in Christchurch More...


    BUSINESS BUSINESS
    New Zealand Food Safety is supporting Matakana Smokehouse in its recall of a specific batch of two of its salmon products because of the possible presence of Listeria More...



     Today's News

    Rugby League:
    NRL Good Friday: Bulldogs take on desperate Rabbitohs, Broncos renew rivalry with Cowboys 23:07

    Law and Order:
    Gisborne Police have charged three people with graffiti vandalism and have identified a fourth suspect after the city's rainbow crossing was defaced with white paint earlier this week 21:57

    Entertainment:
    Heidi Klum would've "loved" a role in 'Griselda' 21:53

    Law and Order:
    Police have left the scene of a party that erupted into a disturbance on Auckland's Princes Wharf 21:37

    Entertainment:
    Tom Schwartz "made out" with Scheana Shay 12 years ago 21:23

    Entertainment:
    Mel B vowed she would never marry again following her split from Stephen Belafonte 20:53

    Entertainment:
    Eva Mendes has branded her mum "incredible" for retaining her sense of humour during her battle with cancer 20:23

    Entertainment:
    Katie Maloney doesn't "hang out" with her 'Vanderpump Rules' co-stars 19:53

    Entertainment:
    Jessica Chastain found it "difficult" to film 'Mothers' Instinct' with her showbiz pal Anne Hathaway 19:23

    Rugby:
    The Chiefs are backing young first-five Josh Jacomb to step up in tonight's Super Rugby clash against the Crusaders in Christchurch 18:57


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