House price change for 2009 calendar year

An article in this morning's Dom Post picked up on the point that the very low levels of building activity may prevent house prices from falling much further. I'd quite like a bundle of stocks looking at NZ house price changes for this calendar year (using the QV numbers) - perhpaps with price changes of below -10%, -5% to -10%, 0% to -5%, and above 0%.

I suspect it would be more interesting and headline worthy to base the fall on the peak November 2007 median price in NZ. (or Jan 2008, whenever it was highest on QV?)

Rather than the rolling year on year figures from QV.

In any case it'd be great to see another property price stock.

It would be an interesting stock to have, albeit not one that I can see trading much beyond the initial flurry.

ltgorman - the problem with using the median price is that it can be a bit volatile dependent on the composition of properties selling in any given month. Using that as a basis for the stock would probably provide less genuine information although would potentially increase the volatility of the stocks (and thus chance for profits or losses).

Dibbo - agreed... it would probably only attract attention when new REINZ or QV data comes out. Still, there's plenty of other long-term stocks that sit around quietly waiting for news to happen.