In the past few weeks the worlds share markets have been in turmoil. First the scare that USA would not get agreement between the republicans and democrats to allow government to borrow more to pay its bills caused a massive fall in share prices worldwide including of course New Zealand.
This was temporarily resolved and prices began to rise again. Next came further fears that Greece or Portugal or Ireland and lately Italy may not be able to get the necessary assistance from other European Union countries which could lead to banks failing in those countries with knock on effects elsewhere too. Stock prices fell heavily again.
Imagine you had your life savings in shares on the share market! If you didn’t get ulcers from worry then the falls in value would certainly give you depression. House prices may occasionally fall in New Zealand but not dramatically, not for long and certainly not at the whim of overseas happenings liked those discussed.
It’s pretty clear why most astute Kiwi’s invest in houses rather than share markets isn’t it. July saw house prices steady in West Auckland and sales numbers are well up compared to the same month last year.
I have a very large number of buyers looking for houses so if you are thinking of selling please call me now and save on fees.
GO THE ALL BLACKS!!
Best wishes,
John Goodrum
Licensee Agent REAA 2008
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