Property trends stories
Regional hotel buyers are chasing stronger returns as domestic and international visitors push tourism demand beyond New Zealand’s big cities.
Tight space in Auckland’s CBD is expected to lift prime office rents by up to 5% a year until new supply arrives in 2020.
New Zealand house sales fell 3.0% in September as July’s low listings fed through, leaving volumes at their weakest since January.
NSW’s near GBP £47 billion infrastructure pipeline is expected to lift property values and spur development around three Sydney rail projects.
Fewer premium floors and stronger demand are set to keep Auckland office rents rising until new supply arrives in 2020.
A first Auckland house price rise in six months, alongside record national highs, suggests spring demand is lifting the market.
Lower vacancy rates in Auckland and Wellington are boosting landlords' returns, with Green Star office buildings drawing tenants more quickly than the wider market.
A nationwide shortage of listings pushed New Zealand house prices up 6.2% in July, though Auckland remained virtually flat.
Tight supply kept prices near record highs in June, even as winter trimmed nationwide sales volumes and lengthened selling times.
Offshore demand is lifting Auckland CBD prices, with three major commercial deals to overseas buyers completed in a month.
Confidence has climbed past pre-election levels, with survey respondents expecting house prices to rise in every market over the next year.
New Zealand’s housing market set a fresh record after the national median house price rose 5.0% to NZD $562,000, REINZ said.
Severe housing shortages in Queenstown are set to ease as 230 freehold apartments in Remarkables Park go on sale from NZD $495,000.
Foreign capital now dominates New Zealand’s biggest commercial property deals, as domestic investment fell 77% to GBP £400 million in 2017.
Tight vacancy and rising rents are keeping Auckland industrial yields near record lows, despite signs of slower growth later this year.
Sales growth was strongest in 23 months as New Zealand’s property market posted its biggest annual rise since May 2016, REINZ said.
Investor confidence has recovered to September 2017 levels, even as online retail growth and flexible offices reshape New Zealand property demand.
Prices outside Auckland climbed to record levels in March, even as the city’s median house price fell 2.2% year-on-year.
Auckland’s city fringe is bucking the downturn as higher-quality apartments there now command an average asking price of NZD $1.35 million.
Generation X buyers are drawn to Point Ridge in Albany because its shared pools, gym and common areas foster a stronger sense of community.
