Shortages of house stock is heating up competition up to about the $700 000 mark in Wellington. Good volumes of sales, but little comming on to replace those sales.
News out of the US sas the same, first home buyers & investors wading in. See http://bit.ly/16cPR3 . Arizona & Florida, bellweather states, getting recovering rates of sales, as people believe a bottom near. Back here, 6% interest rates mean many investors ( who were warned by the gloom mercants they were foolish, 2 yeas ago) have no need to sell. Rents firm.
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