Auckland house prices tipped to rocket

House prices to rise by 24pc, says new research Auckland house prices will rise by almost 30 per cent in the next three years putting the city ahead of every other region in New Zealand, a study predicts.

The Infometrics study forecasts annual price growth of 9.8 per cent next year but 9.2 per cent annually overall between now and 2012.

Auckland's coming rise would be fuelled by the city being the largest in New Zealand, with a rising population and a limited supply of new housing.

Manukau house prices are up almost 5 per cent but Rodney's are down 13 per cent on a year ago.

Not all areas have picked up yet.

Infometrics' outlook for Auckland house prices shows prices will be up 9.8 per cent in the year to June 2010.

To read the full NZ Herald story click here

Posted: 12 Aug 2009

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