More homes are selling round the country and prices keep shooting up
More homes are selling round the country and prices keep shooting up
13 October 2020
Nearly eight thousand, 400 residential properties changed hands last month, 37 percent up on September last year.
Median house prices increased nearly 15 percent, to a record-high 685 thousand dollars.
Real Estate Institute CEO Bindi Norwell says interest rates are at record lows, and about 10 billion more dollars is in the pockets of people who can't travel overseas.
She says it's defied many expectations and there aren't enough properties to keep up with the demand.
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