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 →

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 →

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 →

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 →

Despite the latest Covid-19 lockdown, New Zealand’s median property price once again reached a new record of $850,000, according to REINZ’s August figures released today Median prices for residential property across New Zealand increased by 25.5% from $677,400 in August 2020 to a record $850,000 in August 2021. Continue →

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 →

CoreLogic data showed nationwide values increased by just 1.6% over August, well below the recent monthly peak of 3.1% in April, but will Covid’s resurgence push values up once again? Continue →

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 →

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 →

Given the move back to Covid Alert Level Four, it’s no surprise that the Reserve Bank has chosen to delay an increase to the official cash rate, says CoreLogic Chief Economist Kelvin Davidson Lockdown could mean that any looming OCR increase is more likely to be a gradual 0.25% rather than the 0.50% rise that many were speculating about. Continue →

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 →

The Reserve Bank of New Zealand has announced plans to tighten mortgage lending standards, with the latest CoreLogic data showing nationwide property values increased by 1.8% over July Property price growth has not slowed since June, which recorded the same 1.8% increase. Continue →

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 →

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 →

Despite Government measures to cool the property market, this year saw the most properties sold in June for five years while New Zealand’s median house price rose again to $820,000 according to the latest data from REINZ Median prices for residential property across New Zealand increased by 28.7% from $637,000 in June 2020 to $820,000 in June 2021. Continue →

CoreLogic’s House Price Index shows market momentum is starting to fade throughout the country, but some areas are already seeing values decline, CoreLogic Head of Research Nick Goodall explains According to the CoreLogic House Price Index (HPI), which is the most complete and robust measure of property value change in the market, nationwide values increased by 1.8% over June. Continue →

CoreLogic’s Mid-Year Best of the Best review reveals the 2021 property market upswing is happening nationwide, not just in main centres Herne Bay remains New Zealand’s most expensive suburb (median value of $3.16m), but in terms of value growth, cheaper areas have been far superior. Continue →

REINZ’s latest figures are a clear indication that despite intervention from the Government and the Reserve Bank, house prices will continue to skyrocket until supply catches up with demand Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, driven by inventory levels being at their lowest point ever. Continue →

Both the Government and RBNZ expect a significant reduction in growth over the coming months and we need only to look at the figures to understand why According to the CoreLogic House Price Index (HPI), nationwide values increased by 2.2% over May. Continue →

Policies announced by the Government to control the housing crisis have started showing results, but Kalkine Chief Executive Kunal Sawhney says more needs to be done Real Estate Institute of New Zealand (REINZ) data saw house sales in April drop compared to March while the total number of properties sold declined by 28%. Continue →