4 Views· 09/02/22
?New Zealand Housing - Prices set to Double Madness? #newzealand #mikemartins #auckland
?House prices to double in seven years, and there's nothing Jacinda Ardern can do about it - property expert
#newzealand #mikemartins #auckland
A property investment expert says New Zealand house prices will more than double in the next decade, and there's not a thing the Government can do about it.
But Ashley Church, former head of the Property Institute of New Zealand, says that isn't necessarily a bad thing.
His comments come after data from both the Real Estate Institute of NZ (REINZ) and Trade Me found the median price of a home in Auckland is now more than $1 million and nationwide above $700,000.
"House prices are going to continue to increase. Here's a prediction for you - in seven to 10 years' time, house prices around the country - the median house price will be at least twice what it is now," Church told The AM Show on Wednesday.
"That's a reality. It doesn't matter what the Government does, it doesn't matter what the Reserve Bank does. We've got 50 years of empirical data that tell us that that's what's going to happen."
Please watch: "Mike in The Night ! - The Great Reset - #mikeinthenight #talkshow #Thegreatreset"