The government in New Zealand has indicated that it will take steps to increase the housing supply in the country in a move to control the skyrocketing housing prices in the country.
Prices of homes increased in the metropolitan areas of America, as per reports. The price of a single family home hikes up in the fourth quarter in these parts of US.
European Central Bank made no changes to the interest rates yesterday, as the number of mortgages has risen to the highest in six years.
Experts expect the rates to be lowered in the New Year, since the property market was moving towards stabilization and was hence, recovering.
House prices are increasing in New Zealand. Maximum increase has been seen in three cities: Christchurch, Wellington and Auckland.
The Housing Price Index of the Real Estate Institute has revealed this. The index, which has been witnessed last day, has also unveiled that Wellington is at the top of the list when it comes maximum increase in housing prices.
Recent reports by mortgage lenders show that there has been a decline in number of homes being reclaimed. Rather, the figures administered this year have accounted for a fall to a five-year low.
The Council of Mortgage Lenders (CML) asserted that during this year's third quarter, only 8,200 homes were repossessed, which is the least number to have been repossessed since 2007.
Lodge Real estate today reported upswing in housing sales with the residential properties being sold at a higher pace than previous months.
The increase is being observed in all sectors of suburban areas. The rise in sales of top end of the market emerged strongly while the case with low end is same.