House price predictions for 2010
This prominent item appeared in the NZ Herald early in January 2009. I wonder what these chaps will think is in store for 2010? These predictions from Rodney Dickens, Tony Alexander, Allan Bollard etc just prove that nobody has a clue what the market will actually do from one year to the next.
By August the crystal ball gazers had changed tack and Infometrics came out with a report predicting house prices would rise by 24% in the next three years. This video of Bernard Hickey is great for a laugh – he got it very wrong but many people listened to him!
Latest data from REINZ indicates that the NZ median house price hit a record high in October and Westpac say house prices have risen 8% since January.
This morning Barfoot and Thompson report that house prices are back to the peak levels of 2007. Straight away yet another expert responds.
2002 – $367,036
2003 – $414,742
2004 – $439,215
2005 – $476,916
2006 – $507,470
2007 – $546,364
2008 – $500,840
2009 – $550,217
2010 – ??????????
Anyone brave enough to make a prediction for 2010?