Author Curreen

House prices are continuing to ease as we enter 2023, though the pace of the decline is steadying and the market has glimpses of a new life, REINZ’s January data indicates “January is traditionally a slower month as sellers and buyers are on holiday,” REINZ Chief Executive, Jen Baird says. Continue →

With weaker property market conditions and an increasing number of hurdles, CoreLogic NZ Chief Property Economist Kelvin Davidson shares his thoughts on the likelihood of property investors jumping back in It’s tough to get the sums to stack up at present Given 40% deposits (unless buying a new-build), low gross rental yields, higher mortgage rates (not to mention tough serviceability tests), increased compliance costs, removal of interest deductibility, and flattening rents, there are several key challenges for a would-be new investor. Continue →

New Zealand’s housing market downturn continues to roll on, with CoreLogic recording a 0.3% fall in January, the 10th consecutive month of decline Residential property values are 7.2% lower than a year ago, the biggest 12-month decline since May 2009 (-7.9%), although still smaller than the ‘worst’ of the GFC when prices fell 9.7% in the year to March 2009. Continue →

Increased environmental compliance has required greater preparation by sellers and more due diligence by buyers, pushing out traditional selling times, REINZ Rural Spokesman Shane O’Brien says Data released by the Real Estate Institute of New Zealand (REINZ) shows there were 166 fewer farm sales (-32.0%) for the three months ended December 2022 than for the three months ended December 2021. Continue →

In 2022, national house values saw their biggest drop in 15 years according to Quotable Value, which says there could well be a few more bumps in the road ahead   The latest QV House Price Index shows home values fell nationally by an average of 10.3% last year – now confirmed to be the largest drop in more than 15 years and a stark contrast to the previous couple of years. Continue →

CoreLogic’s Best of the Best Report reveals the suburbs with the highest property values, fastest selling houses, best rental yields and much more The New Zealand property market has experienced a bigger downturn in property values and sales volumes than expected in 2022, CoreLogic’s annual Best of the Best report reveals. Continue →

Property market activity remains subdued as rising interest rates, access to finance and concerns around the economy are fueling uncertainty, REINZ Chief Executive Jen Baird says Market activity through spring has been subdued and median prices continue to soften as buyers remain hesitant, according to the latest data and insights from the Real Estate Institute of New Zealand (REINZ). Continue →

As we go into summer, the market will be softer and slower overall, but thankfully we’re now starting to see more activity, Century 21 New Zealand Owner Tim Kearins says REINZ’s Monthly Property Report for November saw median house prices across New Zealand decrease 12.4% annually. Continue →

While New Zealand’s housing market downturn continued to ease in the past month, the Wellington area still appears to be outpacing the other main centres, CoreLogic NZ Head of Research Nick Goodall says CoreLogic’s House Price Index (HPI) shows property values fell -0.6% in November, less than half the rate seen in October (-1.3%). Continue →

While many homeowners are troubled by interest rates heading north, for now they’re not out of the ordinary when reviewing past decades, with a serviceable mortgage still attainable, says Century 21 New Zealand Owner Tim Kearins Historically, six or seven percent rates have been about the average for Kiwi borrowers, and that’s where the one and two-year rates currently sit. Continue →