Rising population boosts market

Many economic indicators are pointing to continued strong performance in the real estate market.

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  • 1 May, 2014
  • RESIDENTIAL

One of the most significant developments is the growth in population, which increases the demand for housing.

A migration boom is gathering in strength. In the year to February, New Zealand gained 29,000 people, and the monthly increase has been steadily going up. In seasonally adjusted terms the gain for the month was about 3,500 compared with about 3,100 in January, 2,900 in December, and 2,800 in November, according to a BNZ report.

This trend will increase the pressure on the already tight housing supply levels, providing support to prices, especially in the main city centres.

LJ Hooker NZ

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