Browsing: Property Trends

Property Trends
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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 →
Property Trends
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In the 25-year history of CoreLogic’s Pain & Gain data series, never before have more resellers (in proportional terms) made gross profits, says CoreLogic NZ Chief Property Economist Kelvin Davidson New Zealand’s property owners continued to achieve considerable gross profits from the resale of their home or investment property in the three months to September 2021 (Q3), largely due to low levels of supply on the market, high demand and attractive mortgage rates. Continue →
Property Trends
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September’s house price dip may have just been an anomaly as New Zealand’s median house price shot back up by $100,000 in October, REINZ data finds “Despite some officials in Wellington doing their best to talk down the real estate market, it remains incredibly strong with summer now looking decidedly up,” says Century 21 New Zealand Owner Tim Kearins. Continue →
Property Trends
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CoreLogic research indicates the market has peaked, with both sales activity and price growth set to ease further over the coming months, Chief Property Economist Kelvin Davidson says Despite a ‘strange and distorted period for the NZ economy and property market’, the latest CoreLogic Property Market and Economic Update for Q3 2021 confirms a cooling property market. Continue →
Property Trends
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CoreLogic figures show property values increased nationally by 1.4% during September, a reduction on August’s monthly growth rate of 1.6% and the fifth consecutive month of easing growth rates, says Head of Research Nick Goodall With most of the country, aside from Auckland, at alert level 2 for the majority of September, market activity has started to return. Continue →
Property Trends
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The Reserve Bank’s decision to lift the Official Cash Rate to 0.50% could see interest rates go up, but as long as servicing a mortgage remains comparable or cheaper than paying rent, prospective buyers will not be put off, says Century 21 New Zealand owner Tim Kearins We’re not expecting to see a sudden and significant change in rates, as banks have already been subtly raising mortgage rates in anticipation of future hikes. Continue →
Property Trends
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Despite COVID, snap lockdowns and border closures, all major centres across New Zealand achieved price gains, with some suburbs increasing in value by more than $500,000 since August 2021, CoreLogic Chief Property Economist Kelvin Davidson says CoreLogic NZ’s quarterly Mapping the Market Report highlights the extraordinary price gains achieved nationally in the past year. Continue →
Property Trends
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The average property value in New Zealand is a record 7.9 times the average annual household income according to the latest CoreLogic Housing Affordability Report, though there is wide variation across the country The figure is up sharply from the 7.4 times recorded just three months ago and 6.6 times of 12 months ago. Continue →
Property Trends
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The quality of a property’s online marketing presentation is now more important than ever before, with real estate interest and activity still strong, says Century 21 New Zealand Owner, Tim Kearins Online listings are enjoying some great traffic during the current nationwide Level 4 lockdown. Continue →
Property Trends
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CoreLogic’s quarterly Pain & Gain report shows 99% of New Zealand properties are being resold for a gross profit, the highest number on record, says Chief Property Economist Kelvin Davidson New Zealand home owners are pocketing a record level of gross profits from property resales as the country’s real estate market defies last year’s weak economic outlook. Continue →
Property Trends
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REINZ data shows the rate of house price growth is slowing, but Chief Executive Jen Baird says it is too early to tell whether this is the usual winter easing or if the Government’s intervention in the market and signalled changes to the OCR are starting to take effect Overall, house prices are still well up on 12 months ago, yet we’re now seeing month-to-month growth becoming more sustainable, says Century 21 New Zealand Owner, Tim Kearins. Continue →
Property Trends
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Property has grown by $19.6b in the last decade to become our largest industry, making up 15% of the country’s total GDP, new analysis from Property Council New Zealand finds The Property Industry Impact Report 2021, commissioned by Property Council New Zealand in partnership with Urban Economics, underscores the impact of the sector, with property out-gunning other top GDP contributors such as manufacturing (11%), agriculture (6%) and health (7%). Continue →
Property Trends
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CoreLogic’s quarterly market report indicates that the market is close to – or at – a turning point, Chief Property Economist Kelvin Davidson explains This is mainly off the back of affordability pressures, the 40% deposit requirement and extended bright-line test for investors, the tightening of interest deductibility rules, as well as the approval for the Reserve Bank of New Zealand (RBNZ) to look at debt to income restrictions. Continue →
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