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 →

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 →

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 →

CoreLogic NZ’s latest ‘Mapping the Market’ (September 2019) report released delivers location analytics and geospatial expertise, useful in understanding the cost of a typical property in a suburb The Mapping the Market Report looks at suburb median values, using current data and comparing it to the same time last year. Continue →

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 →

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 →

Sydney’s current property downturn has been the sharpest in more than two decades with house prices falling 14.3 per cent from their mid-2017 peak.  Continue →

At about 85,000 on an annual basis, the number of residential property sales across NZ is currently running at a restrained level, as affordability pressures continue and mortgage availability remains controlled. Continue →

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 →

Turangi has been crowned New Zealand’s “biggest riser’ in the latest OneRoof Property Report   Median values in Turangi rose by 41% in the past 12 months, and in the past two years have risen by a staggering 73%. Continue →

Property values are tracking sideways according to the REINZ House Price Index (HPI). Continue →

Auckland’s weakness is not so much about value bands but geography, says CoreLogic Senior Property Economist Kelvin Davidson Auckland’s average property value has fallen by 1.5% over the past year. Continue →

The Reserve Bank (RBNZ) has cut the official cash rate (OCR) from 1.75% to 1.5% and signalled another drop by late this year. Continue →

Property values in New Zealand continue to show modest growth, with the CoreLogic QV House Price Index for April showing an increase of 2.7% over the past year, yet this number is actually dragged down by Auckland The weakness witnessed across Auckland’s property market has continued to weigh down headline results, with the annual fall of 1.5% at the end of April, exactly the same as reported last month. Continue →

The first three months of 2019 delivered an almost identical property market performance to that of 2018: sluggish sales activity and consistent (yet controlled) value growth – with the notable exception of Auckland. Continue →

Takapuna’s median house price went up a staggering 30% in just one year, making it Auckland’s fastest growing suburb according to the latest Real Estate Institute of New Zealand (REINZ) data. Continue →

In the first quarter of 2019, first home buyers (FHBs) and mortgaged multiple property owners (investors) each accounted for 24% of property purchases, CoreLogic research finds For a long period of time, investors had a much larger market share, but LVR III (40% deposit) dampened their activity from October 2016 and meanwhile FHBs have slowly and surely kept raising their presence. Continue →

The number of residential properties sold in February fell by 9.5% from the same time last year to 5,954 (down from 6,576) according to the latest data from the Real Estate Institute of New Zealand (REINZ) The last time sales volumes fell this much on an annual basis was 16 months ago. Continue →