Auckland house prices remain stable as Sydney experiences drop

Author
Newstalk ZB,
Section
Audio,
Publish Date
Friday, 4 January 2019, 9:40a.m.
Auckland is still about 45,000 houses short. Photo / istock
Auckland is still about 45,000 houses short. Photo / istock

Australia's housing price drops are tipped to remain contained and not jump across the ditch any time soon.

CoreLogic says our highest priced market in Auckland doesn't show the same symptoms as Sydney and Melbourne, where prices have dropped up to 11 percent since their 2017 heights.

Spokesperson Nick Goodall says Sydney actually has too many houses now, while Auckland is still about 45,000 short.

He told Tim Dower we are only consenting for about 13,000 a year and demolishing some existing dwellings to make space.

"There is no risk of any oversupply anytime soon, we are seeing a strong amount of building consents being issued."

LISTEN ABOVE AS NICK GOODALL SPEAKS TO TIM DOWER

 

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