NZ’s housing market has clearly been through some significant disruption in recent months and unfortunately there’s more to come, but this hasn’t stopped mortgaged property investors from raising their market shares Existing owner-occupiers are largely staying put at present, with first home buyers and especially mortgaged investors raising their market shares (as well as the number of purchases). Continue →

The latest data from the Real Estate Institute of New Zealand (REINZ) reports sales volumes and prices up, but for how much longer will this high last? Continue →

The 2020 general election could have a major influence on the market, according to a Colliers analysis of election impacts over the past two decades With an election drawing closer and only partial policy announcements to date coming from the major parties, Colliers International’s latest monthly research report, released today, looks at sales activity and confidence surveys coinciding with the past six elections since 2000 to showcase what impacts the campaign could have upon the property sector. Continue →

The ‘good times’ that have re-emerged for property since April are more likely to fade out in the second half of the year than to roll on, warns Core Logic Senior Research Analyst Kelvin Davidson It’s obviously been an unprecedented year for the economy and property market so far in 2020, but it’s at least been reassuring that the number of appraisals generated by real estate agents, for-sale and for-rent listings, valuations ordered by banks, mortgage lending flows, and agreed sales activity have all rebounded since we left alert level four lockdown in late April. Continue →

House prices have continued to surpass predictions for how they would perform post-COVID, with median house prices across New Zealand increasing to $639,000, according to the latest data from the Real Estate Institute of New Zealand (REINZ) June marks 105 months in a row of year-on-year median prices increases for the country. Continue →

According to the June 2020 QV House Price Index (HPI) results, the impact of the COVID-19 pandemic and ensuing economic shutdown on the property market is starting to show, says CoreLogic Head of Research Nick Goodall Nationwide property values dropped -0.2% according to the latest monthly reading, and were down in four of the six main centres. Continue →

Ask any Auckland real estate agent if they’ve got an abundance of stock on their books that they can’t move, and they will fall over laughing, says Century 21 New Zealand Owner Derryn Mayne This follows a leading real estate website claiming there is more housing stock available for sale in Auckland than people looking to buy. Continue →

We’re now seeing more ‘Mum and Dad’ investors eager to get into the property market, which is definitely helping to hold house prices up, says Century 21 New Zealand Owner Derryn Mayne The arrival of ‘Mum and Dad’ investors is understandable given many factors now at play. Continue →

Property sales were up 191% from April to May but still down from last year by 46.6%, with prices fluctuating across the country, the Real Estate Institute of New Zealand (REINZ) has revealed The number of properties sold in May across New Zealand decreased by 46.6% from the same time last year – from 7,477 to 3,990 – as Alert Level 3 restrictions on the real estate market still made it difficult for property sales to occur, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand. Continue →

In the first full month of trading permitted after the easing of COVID-19 restrictions, Auckland house prices showed minimal change to pre-Covid prices, says Barfoot & Thompson Managing Director Peter Thompson What did change significantly was the number of homes sold. Continue →

Kiwis will have the best opportunity to get on the housing ladder in more than a decade, says Century 21 New Zealand Owner Derryn Mayne With many interest rates now well below three percent, and with the Reserve Bank scrapping its mortgage loan-to-value ratio (LVR) restrictions, lower deposits are now required to secure a mortgage and ongoing repayments have never been cheaper. Continue →

Despite a 78.5% decrease in sales volumes in April, median house prices across New Zealand increased by 17.2% to a new record high of $680,000, according to the latest data from the Real Estate Institute of New Zealand (REINZ)   The number of properties sold in April across New Zealand decreased by -78.5% from the same time last year – from 6,082 to 1,305 – as the level 4 lockdown made it very difficult for property sales to occur. Continue →

In the coming months, all parts of the country are likely to feel some degree of property pain says Corelogic Senior Property Economist Kelvin Davidson Clearly there is a tough period ahead for the economy, with GDP set to fall sharply amid rising unemployment. Continue →

News that the Reserve Bank is proposing to remove its mortgage loan-to-value ratio (LVR) restrictions will mean young Kiwis can buy their first homes sooner with lower deposit requirements now inevitable, says Century 21 New Zealand Owner Derryn Mayne Yesterday the Reserve Bank announced over the next seven days it will consult on its proposal to scrap LVRs for at least a year. Continue →

Until the Coronavirus struck New Zealand in early March, the housing market was ticking along nicely, with the average national value going up 6.1% in the last 12 months, but coming out of lockdown we can expect to see a very different market, Quotable Value Ltd General Manager David Nagel anticipates Bob Dey In the final week before lockdown, we could see the impacts of uncertainty starting to have an effect. Continue →

With a clear-headed approach that takes advantage of the tools available to us right now, Kiwis who own their own home and/or investment properties can protect those assets through the current uncertainty and the downturn that is expected to follow, says Founder of Propellor Property Investments Nikki Connors I have experienced financial disaster and the loss of my home, and there’s no way I want any other New Zealander to be in that situation as a result of our current national crisis or any other circumstance. Continue →

Despite a nationwide property report showing new listings in March down 16.5% on the same time last year, it’s great that serious buyers have remained active online during the lockdown, says Derryn Mayne, Owner of Century 21 New Zealand While the country’s level 4 restrictions to combat the Covid-19 pandemic had an immediate impact on new listings at the end of March, average asking prices last month remained buoyant across the country – up 5% on a year ago. Continue →

Investment in transport is expected to invigorate development, and while there will be clear benefits for the property market, the work could also bring short-term disruption, labour shortages, construction cost increases and land speculation pressures Announced in late 2019, the Big New Zealand Upgrade is a $12b public works programme that aims to futureproof the country’s growth. Continue →

Kiwi vendors are increasingly shying away from spending money on advertising their properties, but the benefits of investing in a strong marketing strategy can be huge, says Owner of Century 21 New Zealand Derryn Mayne Serious and targeted marketing will help deliver a faster, more efficient sale. Continue →

The average value of property across New Zealand rose by 1.1% over the month, taking the three-month change to 2.6%, and the average home is now worth $722,475 – up by 5.3% from a year ago, according to the CoreLogic QV February 2020 House Price Index results NZ average property values Property values are rising steadily across each of the main centres with the gains over the past three months ranging from 1.0% in Tauranga up to 5.4% in wider Wellington (measured across the City, Lower/Upper Hutt, and Porirua). Continue →