In the coming months, all parts of the country are likely to feel some degree of property pain says Corelogic Senior Property Economist Kelvin Davidson Clearly there is a tough period ahead for the economy, with GDP set to fall sharply amid rising unemployment. Continue →

News that the Reserve Bank is proposing to remove its mortgage loan-to-value ratio (LVR) restrictions will mean young Kiwis can buy their first homes sooner with lower deposit requirements now inevitable, says Century 21 New Zealand Owner Derryn Mayne Yesterday the Reserve Bank announced over the next seven days it will consult on its proposal to scrap LVRs for at least a year. Continue →

Until the Coronavirus struck New Zealand in early March, the housing market was ticking along nicely, with the average national value going up 6.1% in the last 12 months, but coming out of lockdown we can expect to see a very different market, Quotable Value Ltd General Manager David Nagel anticipates Bob Dey In the final week before lockdown, we could see the impacts of uncertainty starting to have an effect. Continue →

With a clear-headed approach that takes advantage of the tools available to us right now, Kiwis who own their own home and/or investment properties can protect those assets through the current uncertainty and the downturn that is expected to follow, says Founder of Propellor Property Investments Nikki Connors I have experienced financial disaster and the loss of my home, and there’s no way I want any other New Zealander to be in that situation as a result of our current national crisis or any other circumstance. Continue →

Despite a nationwide property report showing new listings in March down 16.5% on the same time last year, it’s great that serious buyers have remained active online during the lockdown, says Derryn Mayne, Owner of Century 21 New Zealand While the country’s level 4 restrictions to combat the Covid-19 pandemic had an immediate impact on new listings at the end of March, average asking prices last month remained buoyant across the country – up 5% on a year ago. Continue →

Investment in transport is expected to invigorate development, and while there will be clear benefits for the property market, the work could also bring short-term disruption, labour shortages, construction cost increases and land speculation pressures Announced in late 2019, the Big New Zealand Upgrade is a $12b public works programme that aims to futureproof the country’s growth. Continue →

Kiwi vendors are increasingly shying away from spending money on advertising their properties, but the benefits of investing in a strong marketing strategy can be huge, says Owner of Century 21 New Zealand Derryn Mayne Serious and targeted marketing will help deliver a faster, more efficient sale. Continue →

The average value of property across New Zealand rose by 1.1% over the month, taking the three-month change to 2.6%, and the average home is now worth $722,475 – up by 5.3% from a year ago, according to the CoreLogic QV February 2020 House Price Index results NZ average property values Property values are rising steadily across each of the main centres with the gains over the past three months ranging from 1.0% in Tauranga up to 5.4% in wider Wellington (measured across the City, Lower/Upper Hutt, and Porirua). Continue →

Those considering listing their properties need to know it’s not too late, with extended summer weather now predicted. Continue →

The number of properties sold in January across New Zealand was up 3.2% on the same time last year (from 4,459 to 4,603) making it the busiest January since 2016 according to the latest data from the Real Estate Institute of New Zealand (REINZ) For New Zealand excluding Auckland, the number of properties sold increased by 0.9% when compared to the same time last year (from 3,279 to 3,308) – also the highest for the month of January in 4 years. Continue →

First home buyers held their ground in 2019, however, the key shift in activity last year came from mortgaged investors. Continue →

Data released by the Real Estate Institute of New Zealand (REINZ) shows growing strength in the lifestyle property sector There were 116 more lifestyle property sales (+6.4%) for the three months ended December 2019 than for the three months ended November 2019. Continue →

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 →

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 →

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 →

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 →

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 →

Just south west of Auckland’s Bombay Hills, once upon a time Tuakau was a sleepy little country village. Continue →

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 →

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 →