Property trends stories
Affordable Southland is drawing first home buyers and investors, with Invercargill’s median house price hitting a record NZD $488,000 in August.
Rising mortgage rates and inflation are still weighing on New Zealand property sales, though agents are seeing more first-home buyers returning.
Softening house prices could tempt vendors to go private, but agents still deliver about 15% more on average, Century 21 says.
Higher urban land costs and borrowing pressures have driven New Zealand house prices up for two decades, though reforms may ease them.
Sharply higher mortgage rates and refinancing demand are set to deepen New Zealand’s property slowdown, CoreLogic warns.
Demand is still holding up this winter, with first-home buyers helped by easier deposit rules and lending changes despite softer sales.
Higher mortgage costs and tighter lending are set to keep house prices under pressure, with June marking a third straight monthly fall.
Lower entry-level house prices and wider government support are nudging first-home buyers closer to ownership despite rising rates.
The city was the only New Zealand region to post an annual fall, with sales also down 38.3% as buyers paused amid higher rates.
Tighter, costlier credit is set to deepen New Zealand's housing downturn, with CoreLogic warning of more price falls and weaker sales.
Borrowers face higher mortgage costs and further house price weakness as the Reserve Bank signals the OCR may peak around 4% by mid-2023.
Tighter lending and higher mortgage costs have pushed first home buyers to a seven-year low, even as government support rules are loosened.
West Coast and Canterbury are still posting strong gains, but a surge in listings and weaker demand is cooling prices nationwide.
Rising stock and tighter financing are cooling competition, with auction sales dropping sharply across New Zealand as buyers turn cautious.
Tighter credit and higher rates are leaving first home buyers more exposed, with some regions now showing early signs of vulnerability.
Stretched affordability and higher mortgage rates are pushing median values down in 154 suburbs, with Auckland and Wellington among the weakest.
Sharp falls never came, but tighter credit and rising mortgage rates now threaten to turn New Zealand's Covid-era property boom into a buyer's market.
More listings and weaker buying power are easing competition, even as national house prices climbed 13.5% to a record GBP £885,000 in February.
Mortgage activity has slumped as tighter lending and higher rates cool demand, with CoreLogic warning house prices may fall further.
Record resale profits are still spreading nationwide, with 99.3% of homes sold in Q4 2021 making a gross gain, CoreLogic says.
