BNZ chief economist Tony Alexander warned against interpreting the figures as any big recovery or turnaround.Now that's optimism! But at least agents are positive:
"I would not blindly extrapolate these figures to believe there's an upturn given tighter lending from banks, rising unemployment and the recent increases in longer-term fixed interest rates," he said.
[...] Nick Tuffley, ASB economist, said prices were still lacklustre and down 1.4 per cent on levels a year ago. He prefers a different set of data that show price drops of almost 10 per cent.
"While we expect that the housing market is now on a recovery path, it will be a mild recovery. The fundamentals for the housing market are not strong."
Peter Thompson, Barfoot & Thompson director, said: "The market is tough but we've got to move on and work with what we've got. It's not like it was three or four years ago."Easy mate, don't get too carried away!
I think being the guy who writes the headlines would be the best job in the world.