16 December 2005

Rural property market in New Zealand

Rural real estate experts are predicting a slowdown in the New Zealand rural property market which has seen a steep increase in land prices this year.

In its quarterly market outlook for the rural sector, Massey University's real estate unit says it appears sellers' price expectations are now meeting some buyer resistance.

Its panel of experts suggest this is due to high interest rates and the strong New Zealand dollar which is undermining exports.

They have also identified the depressed state of the pipfruit industry as a factor influencing prices for horticultural properties.

More here.

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