new zealand exports and house building increase and signs of recovery
News Posted On: 02 July 2009
New Zealand is showing signs that government forecasts for an end to the recession and a return to positive growth in the final quarter of this year may be achievable. New Zealand exports were 5.8% higher this May than in May last year, and home-building permits were 3.5% higher in May than in April, according to the New Zealand statistics office.
Imports also fell, which helped to bring the annual trade deficit lower than it had been for more than five years.
The international downturn has sent New Zealand into its worst recession for more than three decades. It is hoped that these signs of recovery in the overseas trade and housing markets can spark the beginnings of a recovery in the wider economy.
The building permits increase is indeed a positive sign for the New Zealand property market according to Les Calvert, director of overseas property portal Property Abroad.com, he said:
"From an overseas property perspective, New Zealand property was primarily being purchased by lifestyle buyers, some of them doing so also with investment in mind, i.e. holiday home buyers who planned to rent out the property when not in use. These buyers are about the only type of foreign buyer left at the moment and so interest in New Zealand property has remained almost constant.
"Now that it seems the internal housing market in New Zealand is going to be one of the first in the world to think about recovering, this may bring interest from the investors sitting on piles of cash waiting for the right opportunity to buy cheap and sell for a quick profit."
View New Zealand property for sale
Back to news articles for this country
Latest Related News Articles in New-Zealand
New Zealand Property Sales Rise by 20pc
2012-01-24
According to the data housing transactions increased by an incredible 20.1% year on year, with the h.....
New Zealand as Good for Economic Immigrants as Oz
2011-10-28
New Zealand is half a world from here, and is often overlooked in favour of Australia when we consid.....
New Zealand Property Market Sees Surge in Listings
2011-10-06
Spring has arrived in New Zealand, and in spite of the Rugby World Cup proving a distraction for som.....
Rapid Price Growth in Prime New Zealand Property
2011-09-16
The most sought-after suburbs in New Zealand are seeing substantial price increases, with more and m.....
Government to Help New Zealand Property Owners in Christchurch
2011-06-29
The government in New Zealand is offering to buy up quake damaged properties in Christchurch, the co.....
New Zealand Property Market Favours Seller
2011-06-15
A recent turnaround in the New Zealand property market has seen the balance of power shift from buye.....
New Zealand Property Market Improving Slowly
2011-03-30
While the Canterbury earthquake saw sales figures fall 4.3%, the property market in New Zealand is s.....
New Zealand Property Remaining Resilient
2011-02-23
According to recent research into the New Zealand property market, price growth is proving resilient.....
Chinese Heavily Active in New Zealand Property Market
2011-01-27
According to experts the level of Chinese activity in the New Zealand propety market continues to ri.....
Fund Recommends Investment in New Zealand Property
2011-01-20
New Zealand property is being recommended as a solid investment by investment fund Tower Investments.....