The Quotable Value, a government owned property research company, sees prices rising in October
The New Zealand QV house price index YoY for the month of October rose to 2.8% from 2.4% in September
- Prices are up 1.4% in the 3 months through October
- The average value is NZ$697.204
- Auckland prices fell 1.5% year on year but are up 0.6% in the last 3 months
according to Quotable Value, "the continue shortage of quality real estate listings, coupled with record low mortgage interest rates have combined at some zing to the property market over October" They add, "in expected loosening of mortgage lending restrictions by the RBNZ later this month could attract further new players into the property market"
The NZDUSD today has fallen below its 200 hour moving average at 0.63876, but did run into support against its 100 bar moving average on the 4 hour chart at 0.63706. The price is currently trading back up at 0.6377 currently.
A move back above the 200 hour moving average at 0.63876, could solicit more buying, while a move below the 100 bar moving average on the 4 hour chart at 0.63706, could solicit stops from the dip buyers. The battle is on between the two moving average levels.
