Property trends stories
Auckland's weaker market is likely to drag on national property sales, even as CoreLogic sees New Zealand prices edging up about 3% this year.
House prices in Takapuna surged 30% to NZD $1.3 million, as council-led upgrades and new apartments fuel demand in Auckland’s bayside hub.
CoreLogic says tighter lending and higher costs have left investors and first home buyers tied on 24% of purchases in early 2019.
Sales volumes in February marked the sharpest annual fall for 16 months, even as prices kept climbing across most of New Zealand.
New Zealand property investors remain upbeat despite a proposed capital gains tax, with Colliers finding prices and confidence still broadly positive.
Tenants in Auckland and Wellington face tighter leasing conditions, with record-low vacancies likely to push rents higher over the coming years.
Tighter lending, weak wage growth and fewer homes on the market are limiting any relief for first-time buyers as prices fall.
Economic growth and measured construction are keeping real estate markets in good shape, even as Brexit and trade uncertainty cloud the outlook.
Low mortgage rates should keep property demand supported after the Reserve Bank left the official cash rate unchanged again, though risks remain.
Lower supply is widening regional gaps, with Auckland and Canterbury cooling while most of New Zealand posts stronger house price growth.
Strong demand and scarce listings are expected to keep Dunedin property values climbing in 2019, despite higher insulation costs for landlords.
Building consents must stay high if New Zealand is to make a dent in its housing shortfall, with the industry already running at full tilt.
Sydney and Melbourne buyers face the sharpest hit as Morgan Stanley warns Australian house prices could fall 20 per cent and construction slows.
Low interest rates and looser lending are expected to cushion New Zealand property values, with first-home buyers set to gain most.
Policy changes in 2019 could dampen buyer demand and reshape lending as New Zealand's housing market enters another year of low, steady volumes.
Higher sales and record prices point to a spring lift in New Zealand housing, with 6,791 homes sold nationally in October.
New rules are set to steer developers towards better connectivity, data use and planning across greenfield sites, precincts and campuses.
Councils could soon use digital planning tools to cut delays and paper work, while blockchain may also reshape property settlements and rentals.
Strong visitor growth and a chronic room shortage are keeping Auckland CBD hotel occupancy and rates high, with more demand ahead.
Offshore investors have snapped up Auckland’s Waldorf Stadium Apartment Hotel in the city’s biggest hotel deal for 12 years.
