Browsing: Property Trends

Property Trends
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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 →
Property Trends
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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 →
Property Trends
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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 →
Property Trends
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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 Trends
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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 →
Property Trends
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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 →
Property Trends
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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 →
Property Trends
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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 →
Property Trends
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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 →
Property Trends
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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 →
Property Trends
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Local agents are reporting a lot more activity across buyer groups, while vendors are willing to be realistic with their price expectations, reflected in October’s median house price, REINZ Chief Executive Jen Baird says Across October, the Real Estate Institute of New Zealand (REINZ) reported an increase in sales activity, a rise in property listings, decreased time to sell, and an overall sense of growing confidence in the market compared to the previous year. Continue →
Property Trends
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During October, new listings were up, auctions regained popularity with sellers, and the national average asking price lifted back to January 2023 levels, says Vanessa Williams from realestate.co.nz The latest data from realestate.co.nz shows post-election confidence has hit the New Zealand property market. Continue →
Property Trends
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The volume of potential offshore buyers interested in New Zealand properties is continuing to grow, luxury real estate agent Caleb Paterson says, with one planning to invest $50 million into the country once National’s foreign buyer policy is implemented Word is spreading around the world about the proposed change to Government policy and the wider economic benefits of a post-election influx of wealthy migrants could be far greater than the revenue from the 15% foreign buyers’ tax. Continue →
Property Trends
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REINZ’s September 2023 figures show more activity in the spring property market, with prices stabilising, sales counts rising and properties selling in fewer days, Chief Executive Jen Baird says September shows the ‘green shoots’ from previous months are continuing to grow.  Continue →
Property Trends
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While the market remains largely flat overall, with the average home value increasing by just 0.9% in the September quarter to $899,256, the latest QV House Price Index shows small green shoots of recovery spreading throughout much of the country Twice as many of the main urban centres we monitor experienced positive home value growth in the September quarter than in the August one, with Invercargill (3.2%), Auckland (1.6%), Wellington (1.5%), and Queenstown (0.9%) heading a list of ten. Continue →
Property Trends
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In an analysis of 924 suburbs throughout the country, 269 of them saw values rise over the three months to September, more than double the number of suburbs where values increased over the three months to June, CoreLogic NZ Chief Property Economist Kelvin Davidson says Signs of a turning point in Aotearoa New Zealand’s property market are on the rise as a growing number of suburbs record an increase in home values over the past three months, CoreLogic NZ’s interactive Mapping the Market tool indicates. Continue →
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