Browsing: Property Trends

Property Trends
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New Zealand rounded off the decade with the highest number of residential properties sold for the month of December in three years and price rises in 15 out of 16 regions, according to the latest data from the Real Estate Institute of New Zealand (REINZ) The number of residential properties sold across New Zealand in December 2019 increased by 12.3% from the same time last year to 6,285 up from 5,596 (689 more properties). Continue →
Property Trends
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This will be the best year for Auckland real estate that we’ve seen in the past three or four years, predicts Century 21 New Zealand owner Derryn Mayne Her comments follow today’s release of the CoreLogic QV December 2019 House Price Index, which highlighted the recovery of property values in Auckland. Continue →
Property Trends
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Median house prices across New Zealand increased by 8.6% in November to a new record high of $630,000, up from $580,000 in November 2018, according to the latest data from the Real Estate Institute of New Zealand (REINZ) Median house prices for New Zealand excluding Auckland increased by 10.3% to a new record high of $535,000, up from $485,000 in November last year. Continue →
Property Trends
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On the back of strong population growth and only modest increases in its dwelling stock, average property values in Dunedin continue to grow by 15% or more annually, CoreLogic Senior Research Analyst Kelvin Davidson observes Dunedin’s residential property market continues to boom, with average values up by 17% over the past year alone (or nearly $74,000) and by 73% (roughly $214,000) since the upswing began in early 2015. Continue →
Property Trends
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The signs of an upturn in the housing market have become clearer in the past few weeks, though you wouldn’t yet pick it from sales volumes comparisons, but a big reason for that is that there remains a lack of listings on the market, explains CoreLogic Senior Research Analyst Kelvin Davidson Well we’re almost at the end of another busy and fascinating year for NZ’s property market, one that’s involved plenty of legislative changes (and some high-profile about-faces, e.g. Continue →
Property Trends
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The New Zealand housing market showed further signs of strengthening across the board in October with all main urban areas experiencing a lift in property values, CoreLogic New Zealand’s Head of Research Nick Goodall observes   The CoreLogic QV House Price Index showed that nationwide, average property values rose by 0.4% in October and the annual growth rate increased from 2.4% to 2.8%. Continue →
Property Trends
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Listings in Auckland have generally started to tighten in recent months, and this has helped values to flatten out in the past 2-3 months, however not all areas will have seen this, and continued underperformance (in terms of values) wouldn’t be a surprise in suburbs where listings rates are high, says CoreLogic Senior Research Analyst Kelvin Davidson Auckland’s property market has been pretty subdued for about three years now, with sales volumes low and average values drifting downwards (see the first chart). Continue →
Property Trends
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With North Waikato’s real estate holding strong, Huntly featured prominently in Century 21 New Zealand’s annual awards earlier this year, and for good reason Waikato median house prices continue to enjoy good growth. Continue →
Property Trends
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While there doesn’t seem to be anything too major in the pipeline that would throw off the steadiness of the market, there are some important milestones to watch out for in the final few months of the year, says CoreLogic Senior Property Economist Kelvin Davidson Starting off with the macroeconomic environment, the news remains supportive for the property market. Continue →
Property Trends
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From when the Wellington City property market started to boom (around September 2015) through to March this year, average values rose by 52%, or more than $282,500, but in the past six months, that strong upswing has come to a shuddering halt, CoreLogic Senior Research Analyst Calvin Davidson observes Wellington City’s values have been flat since March (they’re currently $827,436). Continue →
Property Trends
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In terms of an overall view, apartments aren’t generally performing any worse or better than the wider property market, although top end apartments (by size/value) could be worth keeping an eye on, says CoreLogic Senior Research Analyst Kelvin Davidson For apartments, the key markets across the country are Auckland City, North Shore, and Wellington City, and then to a lesser extent in Tauranga and Christchurch. Continue →
Property Trends
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While New Zealand’s median house prices have only seen an annual growth of 4.5% according to the Real Estate Institute of New Zealand figures, the Manawatu/Whanganui region has experienced a much more impressive increase of 25.4% At the same time, the ‘capital’ of Manawatu, Palmerston North, continues to outshine most other metropolitan and provincial centres. Continue →
Property Trends
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Mortgaged multiple property owners (i.e. investors) accounted for 25% of property purchases across NZ in July, returning their market share to levels not seen since late 2016, says CoreLogic Senior Property Economist Kelvin Davidson The CoreLogic Buyer Classification data for July shows that first home buyers’ share of property purchases is holding pretty steady at an historically-high level of 23%, more or less where it’s been for the past year, and reflecting factors such as their access to KiwiSaver for a deposit (or part of it) and willingness to compromise on location and/or property type.  Continue →
Property Trends
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Looking at the leading individual suburbs for first home buyers (FHBs) in each of NZ’s ten largest cities, the share of purchases going to FHBs has typically been more than 50% so far in 2019, CoreLogic Senior Property Economist Kelvin Davidson observes CoreLogic’s Buyer Classification figures for May are hot off the press and show that first home buyers (FHBs) and mortgaged multiple property owners (MPOs) – or in other words investors – remain neck and neck in terms of market share* (see the first chart). Continue →
Property Trends
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It’s clear from Statistics NZ figures that last year’s Foreign Buyer Ban in October has cut into property demand from this source, and is likely to have contributed to the softening in values in areas such as Auckland and Queenstown, CoreLogic Senior Property Economist Kelvin Davidson comments In the first three months of the year there were 204 property purchases by people without citizenship or a residency visa, 81% lower than the same quarter a year ago (1,083). Continue →
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