“Lies, damned Lies and statistics”

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The median house price for Queenstown between April 2018 and 2019 has stayed static at $950,000. There has been a drop in the number of sales for that period from 87 to 63. There was an increase in listings in April which may lead to an upturn in sales The previous pressure on buyers to “ buy now” seems to have eased. In the final half of 2018, 24 % of the properties sold in Queenstown were sold to North Islanders, with the majority being from Auckland. Should there be an Auckland buyer ban?? Perhaps a rebranding from the Overseas Investment Office to the “Auckland Investment Office”? Overseas buyers made up only 9% of total sales. Westpac’s crystal ball team don’t think there will be another cut to the OCR this year, but think it will be a close call. Interestingly, they predict house inflation to jump to 7% by…

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