Mortgaged multiple property owners (i.e. investors) accounted for 25% of property purchases across NZ in July, returning their market share to levels not seen since late 2016, says CoreLogic Senior Property Economist Kelvin Davidson The CoreLogic Buyer Classification data for July shows that first home buyers’ share of property purchases is holding pretty steady at an historically-high level of 23%, more or less where it’s been for the past year, and reflecting factors such as their access to KiwiSaver for a deposit (or part of it) and willingness to compromise on location and/or property type.  Continue →

Sydney’s current property downturn has been the sharpest in more than two decades with house prices falling 14.3 per cent from their mid-2017 peak.  Continue →

At about 85,000 on an annual basis, the number of residential property sales across NZ is currently running at a restrained level, as affordability pressures continue and mortgage availability remains controlled. Continue →

Looking at the leading individual suburbs for first home buyers (FHBs) in each of NZ’s ten largest cities, the share of purchases going to FHBs has typically been more than 50% so far in 2019, CoreLogic Senior Property Economist Kelvin Davidson observes CoreLogic’s Buyer Classification figures for May are hot off the press and show that first home buyers (FHBs) and mortgaged multiple property owners (MPOs) – or in other words investors – remain neck and neck in terms of market share* (see the first chart). Continue →

Turangi has been crowned New Zealand’s “biggest riser’ in the latest OneRoof Property Report   Median values in Turangi rose by 41% in the past 12 months, and in the past two years have risen by a staggering 73%. Continue →

Property values are tracking sideways according to the REINZ House Price Index (HPI). Continue →

Auckland’s weakness is not so much about value bands but geography, says CoreLogic Senior Property Economist Kelvin Davidson Auckland’s average property value has fallen by 1.5% over the past year. Continue →

The Reserve Bank (RBNZ) has cut the official cash rate (OCR) from 1.75% to 1.5% and signalled another drop by late this year. Continue →

Property values in New Zealand continue to show modest growth, with the CoreLogic QV House Price Index for April showing an increase of 2.7% over the past year, yet this number is actually dragged down by Auckland The weakness witnessed across Auckland’s property market has continued to weigh down headline results, with the annual fall of 1.5% at the end of April, exactly the same as reported last month. Continue →

The first three months of 2019 delivered an almost identical property market performance to that of 2018: sluggish sales activity and consistent (yet controlled) value growth – with the notable exception of Auckland. Continue →

Takapuna’s median house price went up a staggering 30% in just one year, making it Auckland’s fastest growing suburb according to the latest Real Estate Institute of New Zealand (REINZ) data. Continue →

In the first quarter of 2019, first home buyers (FHBs) and mortgaged multiple property owners (investors) each accounted for 24% of property purchases, CoreLogic research finds For a long period of time, investors had a much larger market share, but LVR III (40% deposit) dampened their activity from October 2016 and meanwhile FHBs have slowly and surely kept raising their presence. Continue →

The number of residential properties sold in February fell by 9.5% from the same time last year to 5,954 (down from 6,576) according to the latest data from the Real Estate Institute of New Zealand (REINZ) The last time sales volumes fell this much on an annual basis was 16 months ago. Continue →

Things look good for both residential and commercial property in New Zealand, despite the potential impacts of a proposed capital gains tax, new Colliers International research shows Residential property price growth expectations remain broadly positive, even after the Tax Working Group’s proposal for a wide-ranging capital gains tax.  Continue →

If we look to Australia, house prices are declining, so housing there must be becoming more affordable – right? Continue →

Overall, real estate markets are in good shape in 2019. Here are CBRE’s key reasons why:  Economic growth will pick up throughout 2019 despite uncertainty Consumers and businesses remain confident, U.S. Continue →

The Reserve Bank (RBNZ) has kept the official cash rate (OCR) on hold at 1.75% for the 15th consecutive time but suggested that a nearer term OCR cut may be on the cards. Continue →

January saw 14 out of 16 regions experience annual increases in the median price for residential properties, including 5 new record median prices, while Auckland and Canterbury saw prices fall, according to the latest data from the Real Estate Institute of New Zealand (REINZ) The national median price for residential properties increased by 5.8% from $520,000 in January 2018 to $550,000 in January 2019. Continue →