Property trends stories
Sales and listings fell sharply in cyclone-hit regions, even as nationwide housing stock returned to more normal levels in February.
Rising borrowing costs and tax changes are pushing more landlords to lift rents or exit the residential market, a survey found.
Higher interest rates and softer prices left apartment owners hardest hit, with a quarter of Q4 resales in loss and median losses at a decade high.
Higher rates and recession fears are keeping sales weak, but buyers are reappearing as inventory swells and price falls slow.
Weak market conditions and higher borrowing costs have driven mortgaged property investors to near-record lows, though cash buyers are still active.
Uncertainty over tax and housing policy could briefly slow residential sales, though commercial activity is likely to stay driven by rates and inflation.
New Zealand home values fell for a 10th straight month in January, leaving prices 7.2% below a year ago and raising further downside risks.
Higher compliance costs and rising interest rates have made rural buyers more cautious, with farm sales falling sharply in late 2022.
Higher borrowing costs and recession fears are expected to keep New Zealand house values under pressure through 2023, QV says.
Higher mortgage rates and tighter lending rules have left New Zealand’s housing market weaker than expected, with sales at a 12-year low.
Rising borrowing costs are keeping buyers on the sidelines as New Zealand sales fall 36.1% year on year and prices soften.
Sales rose nearly 8% in November, offering a rare sign of resilience as New Zealand’s median house price fell 12.4% year on year.
Mortgage holders may welcome easing nationwide declines, but Wellington is still leading the slump, with Porirua posting the steepest falls.
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
Higher borrowing costs have not stopped New Zealand first home buyers lifting their share of purchases to 24% as prices ease.
Higher interest rates are cooling New Zealand’s housing market, with sales down 34.7% and buyers hesitant despite more enquiries.
Further official rate rises are likely to keep mortgage costs high and delay any rebound in New Zealand’s housing market.
Farm sales have fallen sharply as higher costs, volatile weather and policy pressure weigh on rural confidence across New Zealand.
Higher rates and living costs are keeping sales subdued, even as more first-home buyers and bidders return to spring open homes.
Desirable school zones are propping up prices and fuelling buyer demand as families hunt for homes with stronger future resale prospects.
