Government intervention likely came at the right moment for first home buyers, with their share of purchases having steadily dropped over the past three to six months, says CoreLogic Chief Economist Kelvin Davidson Nationally, first home buyers’ (FHB) market share in Q1 2021 was 21.5%, down from 24.8% six months ago and also the lowest since Q1 2018, according to the latest CoreLogic First Home Buyer Report. Continue →

While the national picture represents the busiest April in 5 years, the reality is that we’ve seen the number of sales decrease when compared to March, says REINZ Acting Chief Executive, Wendy Alexander The number of residential properties sold in April across New Zealand was the highest number of properties sold in an April month for 5 years with 7,218 properties sold, according to the latest data from the Real Estate Institute of New Zealand (REINZ). Continue →

Anecdotes throughout April told of quieter open homes, a greater share of auctions ‘passing in’ and that a fear of over paying had replaced the fear of missing out, says CoreLogic head of research Nick Goodall Nationwide values increased by a further 3.1% over April according to the latest CoreLogic House Price Index (HPI). Continue →

Figures in the latest CoreLogic report are a clear “line in the sand” following the Government’s game-changing announcement in the final week of March, says Chief Property Economist Kelvin Davidson The CoreLogic Property Market & Economic Report for Q1 2021 reinforced the heated market conditions which led to the Government’s recent housing policy announcement. Continue →

The Manawatu/Wanganui region had the second highest capital gains and the fourth highest yields, according to an REINZ report Capital gains in the Manawatu/Wanganui region increased 25.3% for the three months ending December 2020 when compared to the same time last year with median prices going from $400,000 to $501,000. Continue →

March saw the most sales in 14 years, with the national median house price soaring to a record $826,300 from $665,000 just last year, REINZ data reveals “We’re seeing houses sell at their fastest pace in a March month ever and the highest percentage of auctions the country has ever seen since REINZ began keeping records, showing just how quickly the market is moving,” says REINZ acting Chief Executive, Wendy Alexander. Continue →

With the dust now settling on the new policy measures, evidence suggests that the effects on the market may not be as significant as initially thought, says CoreLogic Senior Research Analyst Kelvin Davidson It has been two weeks since the Government’s announcement to extend the Brightline Test and to taper/remove mortgage interest deductibility for investors. Continue →

Last week’s housing announcement has drawn attention all over the country, and with CoreLogic data showing the highest rate of value growth in 15 years, it would appear this heightened attention is justified – CoreLogic Head of New Zealand Research Nick Goodall explains Nationwide values increased by a further 2.2% in March, which takes the annual growth rate to 16.1%, the highest rate of growth since January 2006. Continue →

The unrelenting pace of property sales continued in February, with a 14.6% uplift on sales volumes compared to the same time last year according to the latest data from the Real Estate Institute of New Zealand (REINZ) In February, 9 out of 16 regions saw annual increases in sales volumes. Continue →

A new CoreLogic report on women and property reveals more about the apparent gender wealth gap, finding that men own 31,000 more properties than women in New Zealand CoreLogic’s latest comprehensive report, Women and Property: State of Play, provides an enlightening view of who is most engaged in the property market by gender, why the numbers break down as they do, and what institutions can do to promote higher rates of property ownership across the board. Continue →

The CoreLogic House Price Index (HPI) for February 2021 suggests a housing slowdown could be on its way, with Tauranga the first of the main centres to see a month-on-month drop in house prices The recent upward momentum in the NZ residential property market continued through February, although the Tauranga decline could be a signal of things to come. Continue →

Although incomes have fared better than might have been expected given COVID, average household incomes have not kept pace with property value growth, CoreLogic’s latest Housing Affordability Report reveals Since the last bi-annual CoreLogic NZ Housing Affordability Report in August 2020, the economy and property market have undergone largely unexpected and dramatic upturns. Continue →

The median house price across New Zealand sits at $730,300 as of January, down from $749,000 in December, yet REINZ Chief Executive Bindi Norwell is still positive Usually, in January the residential property market slows down, and prices ease off a bit as people head to the beach for their summer holidays, but the housing market was busier and more buoyant than we would usually see at this time of the year. Continue →

The New Zealand residential property market has continued to grow in the first month of 2021, with some areas experiencing a long awaited resurgence, CoreLogic finds The CoreLogic House Price Index (HPI) for January 2021 shows nationwide property values continued to grow over the month, increasing by 2.2%. Continue →

Investors’ market share has soared to 27%, CoreLogic research reveals, prompting speculation that further intervention by government and regulators might be needed to rebalance buyer activity CoreLogic NZ’s latest Property Market & Economic Update cements evidence from a number of market indicators that investor demand has surged back to 2016 levels.  Continue →

As the total pool of properties available for sale falls to record lows, this is continuing to put pressure on house prices, with the country seeing a new record median house price for the fourth month in a row, REINZ reports Median house prices across New Zealand increased by 19.3% from $628,000 in December 2019 to a new record median price of $749,000 in December 2020. Continue →

CoreLogic’s Best of the Best Report shows 2020 in review and reveals what 2021 might herald for the property market New Zealand is in the middle of an unexpected, unpredicted property boom – so who received the biggest Christmas present in the form of equity increases? Continue →

Latest Census data from Stats NZ suggests 10% (191,646) of New Zealand dwellings are unoccupied – a figure which includes bach ownership The regions around the country with the greatest proportion of unoccupied dwellings are those with large numbers of holiday homes, including Great Barrier Island 51%, Waiheke 36%, Thames-Coromandel 49%, Taupo 32%, Ruapehu 33%, MacKenzie District 42% and Queenstown-Lakes 28%. Continue →

Home-owners who use a real estate agent to sell their home can expect to get on average 15% more for the property than they would by selling it privately, an REINZ analysis reveals This is the highest level of premium we’ve seen in 18 years, with the premium having slowly increased over the last few years from 8% back in 2015, lifting to 11% in 2016, 12% in 2017, dropped to 5% in 2018, 6% in 2019 and has now risen to 15% in 2020 highlighting the true value an agent can bring to the process of selling your property. Continue →