The Reserve Bank has cut the Official Cash Rate (OCR) by another 50 basis points to 4.75%, but CoreLogic NZ Chief Property Economist, Kelvin Davidson, says August’s OCR cut has yet to boost house prices and difficult decisions are still ahead for borrowers CoreLogic’s hedonic Home Value Index (HVI) showed another subdued month for the property market in September, with values down by a further 0.5%. Continue →

While overall sales slightly declined in August, REINZ’s latest numbers show notable increases in activity in several regions, and year-on-year listing numbers continue to rise   REINZ Chief Executive Jen Baird says August provided a sense of confidence and positivity to the property market. Continue →

New data from realestate.co.nz indicates the property market is already responding after the Official Cash Rate (OCR) dropped 25 basis points to 5.25% The OCR dropped during August for the first time in four years, and in the 14 days immediately following the announcement, there was a noticeable uptick in buyer activity compared to the two weeks prior. Continue →

July brought a new wave of buyer activity not typically seen in late winter, with properties starting to sell faster than they hit the market, REINZ’s latest figures reveal Chief Executive Jen Baird says while listings continue to increase, the rise in sales volumes has seen the total number of properties for sale in New Zealand fall compared to last month. Continue →

The average house price has dropped more than $20,000 since February according to CoreLogic’s latest figures, a trend which Chief Property Economist Kelvin Davidson says is not surprising CoreLogic’s updated, hedonic Home Value Index (HVI) showed a 0.5% fall in values across NZ in July – the fifth monthly fall in a row – taking the total decline from February’s ‘mini peak’ to 2.5%. Continue →

Regulatory change is currently a huge theme for housing – CoreLogic’s Chief Property Economist Kelvin Davidson draws on some anecdotal insights gathered from market participants ‘on the ground’ in this environment 1. Continue →

On a national level, house prices have stayed relatively stagnant over the past two months, but that doesn’t tell the whole story according to CoreLogic data for each city across the country Home value growth in New Zealand has completely petered out in the past two months, with values dipping by 0.2% in May, after a minor 0.1% fall in April. Continue →

Increasing costs of living, high interest rates, and recessionary pressures all impacted the New Zealand property market in April, with new data showing a nationwide downturn in property demand, realestate.co.nz Chief Executive Sarah Wood says Demand in this context is measured by searches and engagements per listing, which are reliable gauges of buyer interest relative to available properties. Continue →

The proportion of short-term fixed mortgages has reached record levels, signalling that mortgage rates have peaked and that the medium-term outlook is downwards, CoreLogic NZ Chief Property Economist Kelvin Davidson says The CoreLogic NZ April Housing Chart Pack shows that 56% of new loans by value taken out in February were fixed on one-year terms compared to 36% in December. Continue →

Real Estate Institute of New Zealand (REINZ) March 2024 data shows a significant increase in listings and stock levels, creating more options for buyers REINZ Chief Executive Jen Baird says the market is clearly more active compared to a year ago, with high listing numbers, increased stock levels, higher sales counts, and higher median sale prices. Continue →

Residential property values have remained relatively flat throughout the first quarter of 2024, amidst a glut of listings and an ongoing dearth of sales across much of New Zealand, the latest QV House Price Index finds The average home value has increased nationally by 2.2% to $924,734 over the first three months of 2024 – a small increase on the 1.3% quarterly home value increase reported at the end of February. Continue →

Property values have risen for five consecutive months, however the pace of gains slowed to 0.3% in February – has the housing market at last stabilised into a period of slow and steady growth? Continue →

REINZ’s January statistics show that while there are significantly more properties on the market, buyer activity has slowed January is usually a slower month for the completion of sales in New Zealand and this year is no exception with 2,995 properties being sold, Real Estate Institute of New Zealand (REINZ) Chief Executive Jen Baird says. Continue →

The housing market’s slow but steady recovery continues, with all bar one of New Zealand’s main centres recording an increase in average house prices this last quarter, QV’s latest figures find   The latest QV House Price Index for January 2024 shows the average home increased in value nationally by 2% this last quarter to $925,461, representing a faster rate of growth than in the three months to the end of December, but still slightly slower than in October and November. Continue →

In a first for New Zealand, the average residential asking price has exceeded $1.6 million in one part of the country, but it is not the only area that has reached an all-time-high, realestate.co.nz’s Vanessa Williams says January data from realestate.co.nz saw Central Otago Lakes District’s average asking price soar past $1.6 million, setting a national record. Continue →

The Real Estate Institute of New Zealand’s (REINZ) December 2023 figures show a notable increase in sales activity, median prices lifting, lower days to sell, and a clear sense of more confidence overall (year-on-year), Chief Executive Jen Baird says December showed that the trend of steady improvement in property market activity has set in thanks to interest rates stabilising, the new Government announcing more details of its plans, and the arrival of the more active months in the property cycle. Continue →

Though almost $100 billion worth of property was put up for sale last year, this was a substantial drop compared with 2022, realestate.co.nz Chief Executive Sarah Wood says It’s clear that people who didn’t need to sell property in 2023 preferred to sit on the sidelines. Continue →

realestate.co.nz’s latest stats reveal December 2023 brought a 16-year low in new listings, though the Summer season has still seen some regional hotspots boom, spokesperson Vanessa Williams says Festive cheer may have been high, but new listings hit a new low during December, down 6.4% year-on-year to 4,828 new listings nationally. Continue →

November has brought the expected lift in the number of properties coming to market and a significant increase in the number sold – a sign of positivity returning to the market, REINZ Chief Executive Jen Baird says November continues the trend of slow and steady improvement in property market activity now that the country is past the election, and we head into more active months in the property cycle. Continue →

November 2023 has seen vendors return to the market, demand for property rise to meet supply, and a stability in average asking prices, following government, economic and OCR certainty, says realestate.co.nz’s Vanessa Williams The latest data from realestate.co.nz shows that for the first time since November 2022, more than 10,000 new listings came onto the market. Continue →