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 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 Continue →

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 →

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 Continue →

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 →

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 →

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 →

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 →

Seller confidence is returning and we can expect a more normal spring ahead for the property market, REINZ Chief Executive Jen Baird says following the release of August’s statistics The Real Estate Institute of New Zealand’s (REINZ) August 2023 figures show continued optimism and further activity in the property market. Continue →

A modest amount of home value growth this quarter may mean the residential property market recovery has begun, QV reports   The average home increased in value nationally by 0.5% to $893,639, marking its first quarter of positive growth since the downturn began in late 2021. Continue →

Real estate agency Paterson Luxury is reporting a surge of enquiries from Europe, the US and Asia following the National Party’s announcement that it would allow overseas buyers to purchase properties upwards of $2 million and tax those transactions at 15% Caleb Paterson of real estate agency Paterson Luxury, says news of the policy reached buyers in offshore markets almost immediately, triggering a surge in calls to his firm. Continue →

The Reserve Bank of New Zealand (RBNZ) leaving the official cash rate (OCR) unchanged at 5.5% will have surprised very few people, but it has hinted at when interest rates might start to fall, CoreLogic Chief Economist Kelvin Davidson observes The decision itself and the associated forecasts as part of its full Monetary Policy Statement had a distinct sense of ‘we’ve been here before’ – with the anticipated tracks for GDP growth (subdued), unemployment (edging upwards), and inflation (slowly falling) largely unchanged from last time the RBNZ published their full forecasts on 24th May. Continue →

More competitive prices and a ‘get in now’ attitude is bringing more buyers out ahead of this year’s election, but a potential change in Government and ongoing tighter economic conditions are seeing sellers holding back, REINZ Chief Executive Jen Baird says The Real Estate Institute of New Zealand’s (REINZ) July 2023 figures show more activity emerging while listing numbers remain low seeing total stock numbers fall and some regions have seen little movement in median prices. Continue →

Relocating owner-occupiers, or ‘movers’, have been relatively inactive over the past year or so, with upsizing, downsizing, and ‘new to area’ moves all drifting lower, CoreLogic Chief Economist Kelvin Davidson observes The CoreLogic Buyer Classification figures suggest there’s perhaps been less of a COVID-driven hunt for extra space going on than might have been perceived. Continue →

Compared to this time last year, there has been a noticeable increase in sales in the residential property market, though the number of new listings is lagging, new REINZ figures show The Real Estate Institute of New Zealand’s (REINZ) June 2023 figures show a renewed level of activity emerging.  Continue →

Declining home values continue to soften in many parts of New Zealand, yet QV says we are likely to see that rate of reduction both leap and fall in the coming months as a result of reduced sales activity The QV House Price Index for June 2023 shows the average home decreased in value by 1.8% nationally this quarter, a smaller rate of decline from the 3.4% decrease in quarterly value change experienced back in May. Continue →

Property transaction volumes have turned a corner, after consecutive interest rate hikes and tighter lending rules triggered New Zealand’s largest sales slump since 1983, CoreLogic Chief Economist Kelvin Davidson says CoreLogic NZ’s Monthly Housing Chart Pack shows a 7.5% increase in residential sales numbers (via estate agents and private transactions) occurred in May compared to the same time last year. Continue →