Browsing: Property Trends

Property Trends
0

The presence of first home buyers has fallen sharply this year, CoreLogic reports, but changes to First Home Grants and Loans could turn things around – or add more fuel to the fire CoreLogic’s biannual First Home Buyer report, reveals 22.5% of all buyers in the first three months of 2022 bought a property for the first time compared to 26% in the second half of 2021. Continue →
Property Trends
0

The New Zealand property market is still settling into its current phase — as reflected by volatility across the regions, with a 31.6% annual price increase in one region and a 5.0% decrease in another, REINZ Chief Executive Jen Baird says Across New Zealand, median prices for residential property increased 8.8% annually, from $804,362 in April 2021 to $875,000 in April 2022. Continue →
Property Trends
0

Through 2021, demand side pressure caused an urgency to ‘buy now or miss out later’, and activity in auction rooms reflected this buyer sentiment – now quality is king, REINZ Chief Executive Jen Baird says The auction process is an effective way of selling in any market – however the dynamics. Continue →
Property Trends
0

After such a significant upswing in values, some of the areas which saw the greatest deterioration in affordability are now also at risk of the greatest vulnerability, CoreLogic NZ Head of Research Nick Goodall says The impact of tightening credit and increasing interest rates has reduced the pool of buyers who are willing and able to pay recent prices and this has led to a reduced number of property transactions. Continue →
Property Trends
0

Signs of weakness have begun to show in dozens of suburbs across New Zealand, CoreLogic’s interactive Mapping the Market Report reveals New Zealand’s housing market has reached a clear turning point, as stretched affordability, higher mortgage rates and reduced credit availability cause growth rates to slow, or even turn negative, in many areas of the country. Continue →
Property Trends
0

It’s been a bizarre period for the housing market ever since New Zealand entered its first lockdown on 25 March 2020, with predictions of large falls in property values turning out to be way off track, CoreLogic Chief Economist Kelvin Davidson observes After an initial four to five month period of housing uncertainty, the policy changes that were aimed at supporting the real economy – e.g. Continue →
Property Trends
0

It doesn’t matter if you’re in a main centre or a small provincial district, an owner occupier or an investor, or whether you’re selling a house or apartment, says CoreLogic NZ Chief Property Economist Kelvin Davidson New Zealand’s property market upswing has continued to drive record gross profits for homeowners, CoreLogic NZ’s latest Pain & Gain report found. Continue →
Property Trends
0

Another 0.25% increase to the Official Cash Rate takes it back up to 1%, the same level it was in February 2020 when house prices were about $320,000 lower New Zealand’s average house price sits at $1,028,097 with an annual growth rate of 27.5% according to CoreLogic’s January 2022 figures, but in February 2020 it was just $722,475 with a 5.3% growth rate. Continue →
Property Trends
0

The property market likely moved through its peak rate of growth late in 2021, following a raft of political interventions designed to cool the overheated market, CoreLogic Chief Property Economist Kelvin Davidson says The total value of residential real estate reached $1.72 trillion at the end of Q4 2021, up from $1.35 trillion at the end of 2020, with mortgages secured against 19% of that value, and the other 81% household equity. Continue →
Property Trends
0

These latest statistics will be a wake-up call to the Government and Reserve Bank – if they continue to tighten the screws too hard, the very people they’re trying to protect will be the ones most adversely affected, Century 21 New Zealand Owner Tim Kearins says We’re starting to see the lending restrictions that took effect in November and December playing out in the Real Estate’s Institute’s latest monthly statistics. Continue →
Property Trends
0

It’s harder now to get a mortgage than it has been at any point since the financial markets were deregulated in the 1980s under Prime Minister Robert Muldoon, says economist Tony Alexander Diana Clement & Tony Alexander – OneRoof Mortgage brokers are reporting that clients who thought they had finance in the bag are being refused, sometimes after going unconditional on purchase. Continue →
Property Trends
0

CoreLogic’s December House Price Index closes out a record year, with 27.6% growth over the full calendar year and the average home value now exceeding $1m for the first time, but change could be on the way, says CoreLogic NZ Head of Research Nick Goodall With the average house price in New Zealand now sitting at $1,006,632, 2021 was truly a remarkable year in the property market. Continue →
Property Trends
0

Property prices climbed further in November and early signals suggest this growth will continue, though more moderately, according to the latest data from the Real Estate Institute of New Zealand (REINZ) Median prices for residential property across New Zealand increased by 23.8% from $747,000 in November 2020 to $925,000 in November 2021 — a new record high. Continue →
Property Trends
0

The signs that the total stock of listings on the market has embarked on a firm upwards trend are becoming much clearer, says CoreLogic Chief Economist Kelvin Davidson Across NZ as a whole, total supply is still relatively tight, but some key areas, such as Dunedin and Wellington, are loosening quickly. Continue →
1 2 3 17