Property trends stories
Higher borrowing costs are cooling sales and slowing price growth, with more than half of NZ mortgages set to reset this year.
Mortgage repayments now absorb nearly half of household income, as record house prices and weaker wages push affordability to fresh lows.
Sales volumes and price growth are easing, with REINZ figures showing weaker January activity and tighter lending weighing on buyers.
Rising rates and tighter lending rules are likely to cool demand, with CoreLogic warning some fixed-rate borrowers could soon see repayments double.
First-home buyers are feeling the pinch as tighter lending rules help push New Zealand’s median house price down 1.6% in December.
First-home buyers are being refused finance after going unconditional, as tougher bank rules and lending checks squeeze borrowing.
Rising rates and tighter lending rules could cool New Zealand’s housing boom in 2022, after values topped GBP £1m nationally for the first time.
Buyers are getting more choice as supply improves, even though New Zealand house prices hit fresh records in November and growth begins to ease.
Rising listings in New Zealand are set to ease price pressures, with Wellington and Dunedin already shifting towards a buyer's market.
Tighter credit and more listings are likely to keep house price gains easing as annual growth slips for the first time since August 2020.
Record rents are keeping first-home buyers in the market, with mortgage payments still cheaper than paying to rent for many Kiwis.
Record-low losses and near-universal gains in New Zealand’s housing market are being driven by tight supply, strong demand and cheap borrowing.
New Zealand’s median house price climbed by NZD $100,000 in October, with 10 regions hitting record highs amid tight supply and strong demand.
Rising mortgage costs and tighter lending rules are expected to cool the market, even after values posted their first monthly acceleration in six months.
Higher mortgage rates and tighter lending rules are already cooling New Zealand’s housing market, with investor demand slipping further.
Property values rose 1.4% nationally in September, but activity is easing as tighter lending and higher rates weigh on buyers.
Higher mortgage costs are unlikely to deter first-time buyers while rents keep climbing and remain above many monthly loan repayments.
Property values have surged nationwide, leaving first-home buyers facing tougher affordability as almost every New Zealand suburb gained at least 10%.
Lockdown has not cooled demand, with New Zealand house prices hitting another record as spring listings are delayed and buyers stay active.
Westland is the country's most affordable area, with house prices at just 3.2 times income and rent and deposits well below national norms.
