{"id":29176,"date":"2020-11-18T10:27:41","date_gmt":"2020-11-17T21:27:41","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29176"},"modified":"2024-03-01T20:48:13","modified_gmt":"2024-03-01T07:48:13","slug":"house-prices-to-double-in-seven-years-and-theres-nothing-ardern-can-do-about-it-new-zealand","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/house-prices-to-double-in-seven-years-and-theres-nothing-ardern-can-do-about-it-new-zealand\/","title":{"rendered":"House prices to double in seven years, and there’s nothing Ardern can do about it | NEW ZEALAND"},"content":{"rendered":"

PHOTO: Ashley Church. Photo credit: The AM Show<\/strong><\/p>\n

A property investment expert says New Zealand house prices will more than double in the next decade, and there’s not a thing the Government can do about it.<\/p>\n

But Ashley Church, former head of the Property Institute of New Zealand, says that isn’t necessarily a bad thing.<\/p>\n

His comments come after\u00a0data\u00a0from both the Real Estate Institute of NZ (REINZ)<\/a> and Trade Me found the median price of a home in Auckland is now more than $1 million and nationwide above $700,000.<\/p>\n

“House prices are going to continue to increase. Here’s a prediction for you – in seven to 10 years’ time, house prices around the country – the median house price will be at least twice what it is now,” Church told The AM Show on Wednesday.<\/p>\n

“That’s a reality. It doesn’t matter what the Government does, it doesn’t matter what the Reserve Bank does. We’ve got 50 years of empirical data that tell us that that’s what’s going to happen.”<\/p>\n

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