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 →

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 →

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 →