Although incomes have fared better than might have been expected given COVID, average household incomes have not kept pace with property value growth, CoreLogic’s latest Housing Affordability Report reveals Since the last bi-annual CoreLogic NZ Housing Affordability Report in August 2020, the economy and property market have undergone largely unexpected and dramatic upturns. Continue →

The median house price across New Zealand sits at $730,300 as of January, down from $749,000 in December, yet REINZ Chief Executive Bindi Norwell is still positive Usually, in January the residential property market slows down, and prices ease off a bit as people head to the beach for their summer holidays, but the housing market was busier and more buoyant than we would usually see at this time of the year. Continue →

The New Zealand residential property market has continued to grow in the first month of 2021, with some areas experiencing a long awaited resurgence, CoreLogic finds The CoreLogic House Price Index (HPI) for January 2021 shows nationwide property values continued to grow over the month, increasing by 2.2%. Continue →

Investors’ market share has soared to 27%, CoreLogic research reveals, prompting speculation that further intervention by government and regulators might be needed to rebalance buyer activity CoreLogic NZ’s latest Property Market & Economic Update cements evidence from a number of market indicators that investor demand has surged back to 2016 levels.  Continue →

As the total pool of properties available for sale falls to record lows, this is continuing to put pressure on house prices, with the country seeing a new record median house price for the fourth month in a row, REINZ reports Median house prices across New Zealand increased by 19.3% from $628,000 in December 2019 to a new record median price of $749,000 in December 2020. Continue →

CoreLogic’s Best of the Best Report shows 2020 in review and reveals what 2021 might herald for the property market New Zealand is in the middle of an unexpected, unpredicted property boom – so who received the biggest Christmas present in the form of equity increases? Continue →

Latest Census data from Stats NZ suggests 10% (191,646) of New Zealand dwellings are unoccupied – a figure which includes bach ownership The regions around the country with the greatest proportion of unoccupied dwellings are those with large numbers of holiday homes, including Great Barrier Island 51%, Waiheke 36%, Thames-Coromandel 49%, Taupo 32%, Ruapehu 33%, MacKenzie District 42% and Queenstown-Lakes 28%. Continue →

Home-owners who use a real estate agent to sell their home can expect to get on average 15% more for the property than they would by selling it privately, an REINZ analysis reveals This is the highest level of premium we’ve seen in 18 years, with the premium having slowly increased over the last few years from 8% back in 2015, lifting to 11% in 2016, 12% in 2017, dropped to 5% in 2018, 6% in 2019 and has now risen to 15% in 2020 highlighting the true value an agent can bring to the process of selling your property. Continue →

November saw 9,885 properties sold, the highest since March 2007, but will a lack of listings and rising house prices hinder a strong looking summer? Continue →

The property market is one of the most talked about topics right now and the latest affordability measures from CoreLogic shows us why The centre point of much of the market commentary is the Reserve Bank of NZ (RBNZ) and their role or otherwise in minimising financial stability risks related to the property market. Continue →

Queenstown’s property market was one of the worst hit by Covid-19, but has proved remarkably resilient, with confidence growing again and big infrastructure spending in the pipeline, a Colliers International report finds The fundamental driver of Queenstown’s growth over the past decade has been tourism, says Heather Beard, Registered Valuer and Consultant at Colliers Queenstown. Continue →

The Government is being urged review the Home Start grant thresholds for first home buyers following the rapid pace at which house prices in New Zealand have grown In the last 12 months, median house prices across the country have risen by 20% which now means that only 33% of properties in New Zealand are below the threshold to be eligible for the home start grant down from 40% in June. Continue →

October saw the highest number of properties sold in nearly five years as 10 regions saw record median house prices, including Auckland which has now hit $1,000,000, the Real Estate Institute of New Zealand (REINZ) reports   Median house prices across New Zealand increased by 19.8% from $605,000 in October 2019 to a new record median high of $725,000 in October 2020; and up from $689,000 in September this year (a 5.2% lift). Continue →

Auckland’s suburban apartment market is outperforming the once-dominant CBD, with a recent Colliers survey finding the best-selling project is located in the suburban hub of Albany Risland Albany comprises 141 affordable units in a medium-rise apartment building with a secure basement car park, located only two minutes from Westfield Albany, the busway and motorway. Continue →

The CoreLogic House Price Index (HPI) for October has found nationwide property value growth accelerated more than any other month this year, increasing by 1.3% Property values have remained robust since the onset of the economic downturn catalysed by the arrival of COVID-19 and the resulting lockdown in late March. Continue →

First home buyers (FHB) took a record 25% of purchases this last quarter, helped by the removal of LVRs earlier this year, however this is set to change as the Reserve Bank considers their re-introduction LVRs were introduced back in 2013 to cool the property market by slowing down liberal lending. Continue →

Migration flows are an increasing influence in property prices, especially the surge in the number of offshore New Zealand citizens returning home to live  Returning kiwis combined with fewer departures are providing strong support for provincial property. Continue →

Normally one month out from an election, sales volumes begin easing off, however 2020 appears to continue in its trend of being an anomaly, says REINZ Chief Executive Bindi Norwell The number of residential properties sold in September across New Zealand increased by 37.1% from the same time last year (from 6,112 to 8,377) – the highest number of properties sold in a month in New Zealand for 42 months (March 2017) and the highest number of properties sold in a September month for 14 years, according to the latest data from the Real Estate Institute of New Zealand (REINZ). Continue →

Despite the sharpest economic downturn in 60 years, house prices in major markets remain relatively stable or on the way up Sydney properties are overpriced, ranking 16th in the UBS Global Real Estate Bubble report of 25 cities worldwide. Continue →