NEW ZEALAND
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New Zealand house prices continue to soften
New Zealand property prices are growing at a slower rate, with the latest CoreLogic House Price Index (HPI) showing a 0.7 per cent rise last month.
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NZ first home buyers struggling to get a mortgage
First home buyers in New Zealand are struggling to get a mortgage with tighter lending requirements and rising interest rates squeezing borrowers, according to a leading expert.
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Property boom hasn’t helped owner-occupiers
Despite property prices rising at a rapid rate in the past two years, a leading economist said the house price boom hasn’t necessarily been a good thing for all owner-occupiers.
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Record profits for NZ homeowners
Price growth in New Zealand might be slowing, but homeowners still have plenty to be happy about with the booming housing market leading to 99.3 per cent of properties being resold at a profit
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NZ property prices to grow by less than 5 per cent
New Zealand property price growth is likely to dip below five per cent this year as rising interest rates start to bite according to an industry expert.
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Openn appoints new CEO for Australia and New Zealand
Openn has appointed former chief operating officer Sean Adomeit as chief executive officer of its Australia and New Zealand operations, as part of its US expansion plans.
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Cost to build a home in New Zealand hits the hip pocket
The cost of building a house in New Zealand has jumped 6.1 per cent in the past year and could rise by 10 per cent or more in 2022, according to experts.
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eXp Realty heads to New Zealand
Cloud-based brokerage eXp Realty is continuing its rapid worldwide growth by expanding its real estate operations into New Zealand, the Dominican Republic, and Greece in the first quarter of 2022.
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Kiwis eye-off Australian real estate in greater numbers
New Zealand property seekers have their eyes firmly on the Australian real estate market, outranking the US and China as the overseas cohort with the largest increase in property searches Down Under.
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Every New Zealand suburb grew in value in 2021
A new report has highlighted just how strong the New Zealand property market has been, with every suburb showing positive capital growth in the past 12 months.
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An unremarkable end to a remarkable property year in NZ
A remarkable year for New Zealand’s residential property market came to an unremarkable end, according to property intelligence firm QV.
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First home buyer lending in NZ likely to slow down
The first home buyer market in New Zealand is likely to slow down in 2022 as banks continue to reduce low deposit home loans according to new analysis from CoreLogic.
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Two-speed market as capital city price growth diverges
It’s been a tale of two halves when it comes to capital city property price growth, with the latest data showing Brisbane and Adelaide continuing to rise while Melbourne housing values have started falling. The CoreLogic Hedonic Home Value Index showed Australian housing values rose one per cent in December, slowing from a 1.3 per cent climb in November. The…
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New Zealand property market trends to watch in 2022
For the New Zealand real estate market, 2021 has been the year the government stepped in and regulatory pressures increased in an effort to curtail rapidly rising property prices. Across the country the 12-month change in median values recorded jumps of between 6.7 per cent in Sunshine Bay, and a whopping 47.7 per cent in Woodville. The figures, released in…
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NZ property market set to shift in 2022
A switch to a ‘buyer’s market’ is on the cards for New Zealand during the second half of 2022, according to CoreLogic’s latest Market Pulse. But buyers might have to work a little harder to secure finance, according to CoreLogic NZ Chief Property Economist Kelvin Davidson. “For some time now, the tight supply of listings on the market, set up…
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New Zealand’s momentum slowing
New Zealand property prices have continued to increase nationally in November, but have slowed compared to October, according to the latest data from CoreLogic NZ.
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How NZ’s cash rate rise will impact the property market
Experts tip the latest NZ cash rate increase isn't the last hike the RBNZ will announce, and that is likely to impact the property market.
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NZ vendors achieve record profits
More than 99 per cent of New Zealand vendors sold their property for more than the original purchase price in the three months to September, according to new data.
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Average NZ home value tops $1 million
Lockdowns have done little to dampen buyer demand in New Zealand where house values have reached a new high.
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NZ First Home Buyers hit record market share
Despite tough market conditions and rapidly rising house prices, first home buyers in New Zealand have hit record high market share.
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New Zealand property value bounce back likely to be temporary
House prices in New Zealand recorded a mini bounce back in October with values up 2.1 per cent over the month. It was the first time in six months that price growth sped up, according to the CoreLogic House Price Index, after September recorded a monthly growth rate of 1.4 per cent. The average value of a property in New…
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New Zealand’s hot property market starting to slow down
New Zealand’s property market may see a mini bounce back in the final two months of 2021, but conditions for a sustained upswing are unlikely to materialise, according to an industry data provider.
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Rising rents push New Zealanders to buy
Signs that rental growth has accelerated sharply across New Zealand is leading many people to look at buying.
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New Zealand has more agents than homes for sale
The number of real estate agents across New Zealand has continued to grow over the past 12 months and the industry is doing its best to maintain high standards.
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Property Vulnerability Index reveals NZ regions most at risk of downturn
The New Zealand property market has been one of the strongest in the world recently with house prices increasing 27.8 per cent in the past 12 months. However, the price increases have started to cause some issues with affordability and only last week the Reserve Bank of New Zealand (RBNZ) was the first major central bank to increase official interest…
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New Zealand implements new rules to prevent investor deductions
New Zealand has continued its efforts to lower the skyrocketing housing market with new rules that will impact property investors. The new rule will prevent property investors in New Zealand from deducting mortgage interest from their taxable income and takes effect from 1 October, according to Reuters. Finance Minister Grant Robertson explained the change is part of a series of…
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Housing affordability continues to rapidly decline in New Zealand
Record house price growth across NZ has led to rapidly declining affordability with little sign of easing, despite rising mortgage rates.
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Record gains and very little pain for New Zealand property sellers
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.
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First home buyers in NZ will suffer from the Reserve Bank’s surprise decision on mortgage deposits
RBNZ's decision to reduce the number of owner-occupiers that can get a mortgage with less than a 20 per cent deposit is set to have huge impacts on first home buyers
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New Zealand’s market slowdown is gradually unfolding
CoreLogic’s House Price Index (HPI) showed New Zealand’s house values increased by a further 1.8 per cent over July, with a market slowdown starting to develop. This was the same rate of growth recorded in June, but down on both May (2.2 per cent) and April (3.1 per cent). While New Zealand is likely to be past the peak growth…
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CoreLogic NZ expects mortgage lending volumes will ease
CoreLogic New Zealand (NZ) has tipped lending activity will slow down over the coming months with mortgage rate increases on the horizon. This comes despite property sales activity remaining solid in June. CoreLogic NZ Chief Property Economist Kelvin Davidson said it was interesting that first-home buyers had a monopoly on mortgage lending with less than a 20 per cent deposit.…
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New Zealand hits a turning point in the property investment market
The recent uptick in mortgage interest rates is yet another influencing factor in the New Zealand residential property investment landscape, with CoreLogic suggesting the market is close to a significant turning point.
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New Zealand’s mortgaged investors see fall in share of property purchases
Over the past three months, New Zealand‘s mortgaged investors have seen their share of property purchases fall, while the number of first-home buyers (FHBs) bought at increased rates. CoreLogic New Zealand (NZ) Chief Property Economist Kelvin Davidson said these patterns were more due to the 40 per cent deposit mortgaged investors need, rather than the March tax changes. The June…
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New Zealand’s Wellington sees a 123 per cent rise in property values
Across the wider Wellington area, the past six years have brought large increases in property values, following a long flat patch prior to 2015.
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CoreLogic New Zealand House Price Index shows market momentum continues to fade
Property values around New Zealand (NZ) increased by 1.8 per cent over June, according to the CoreLogic House Price Index (HPI). Corelogic’s data indicates a slight reduction in June from the 2.2 per cent growth rate from May, providing early evidence of a gentle deceleration in market momentum in NZ. CoreLogic’s Head of Research, Nick Goodall believes the turnaround will…
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