BOOM – Professionals

TXT BOOM TO 5900. The real estate clock is still ticking, unlike my old grandfather clock at home. We’ve had every reason to think the ‘real estate cycle’ rules had changed because the clock in Lower Hutt has appeared to have stopped – for the past eight years. Then, seemingly overnight, someone gave the pendulum a flick and the minute hand has been racing round ever since. Just like the market back in 1981, demand and property prices are on a steep growth curve, and a ‘once in 35 year’ phenomenon is currently taking place. For the first time in New Zealand’s history, the national medium house price has passed the $500,000 mark, reaching a new record of $506,000. We are most certainly in a property BOOM. With the Lower Hutt median price in May only at $397,000, it’s no w

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