Southland's property price drop | NZ Market Update

Data released by RealEstate.co.nz on Monday shows average asking prices in Southland dropped 3.4 per cent in July, month on month, to $400,944. New listings increased 17.1 per cent on July last year. This comes off the back of a steady upward trend since May 2019, when the average asking price sat at $344,688. RealEstate.co.nz spokesperson Vanessa Taylor said that Southland saw a fairly large jump between May and June, from average asking prices of $380,784 to $415,094, and that the dip in July could simply be the market evening itself out.

Prime Minister Jacinda Ardern said that The community outbreak of Covid-19 in Melbourne has driven the possibility of a trans-Tasman travel bubble between New Zealand and Australia well into the distance, Before such travel was possible, Australia would need to have 28 continual days with no community transmission, Ardern said, suggesting that could be at least several months away. There are 760 active cases of Covid-19 with no known source in Melbourne, meaning they were acquired in the community. It has been 93 days since New Zealand last saw a case of Covid-19 with no known source.

Direct Capital successfully launched a $425 million fund in February — just as the coronavirus pandemic started to affect New Zealand — capping it in just over seven weeks. Direct Capital Managing Director Ross George said that the economic ups and downs are one thing, but the Covid-19 situation has been unique for us all. The Direct Capital VI fund will again focus on companies operating in New Zealand's mid-market, companies with annual revenues of between $50 million and $350+ million that are looking for fresh capital to fund new growth initiatives, trans-Tasman expansion, or to manage a change in ownership. The addition of the $425m fund brings to over $1.7 billion the total funds raised by Direct Capital in its 26-year history of investment into private companies.

#RealEstate #Stockstowatch #NewZealand

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