Property trends stories
Affordability pressures are starting to bite, with Hamilton and Rotorua both posting quarterly falls after a rapid run-up in values.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
Nearly all New Zealand homes sold for a profit in the June quarter, as record-low mortgage rates and tight listings drove gains.
Borrowers face higher repayments and tighter credit as rate rises, though lockdown likely postpones the Reserve Bank’s next move.
Record prices are still climbing, but a drop in sales and inventories suggests winter may not be the only reason for the slowdown.
Borrowers face tighter lending rules as the Reserve Bank moves to curb risky loans amid house values rising 1.8% in July.
The sector now employs nearly 200,000 people and accounts for 15% of New Zealand’s GDP, according to new industry analysis.
Rising mortgage rates and tax changes are set to cool sales, but CoreLogic says a full property downturn still looks unlikely.
New records in prices and sales show demand is still outpacing supply, despite efforts to cool New Zealand's property market.
Values are already falling in Gisborne, New Plymouth and Napier as nationwide house-price growth cools and rate rises loom.
Australia will need about 500,000sq m of extra industrial space a year as e-commerce pushes vacancy rates tighter and lifts rents.
Cheaper provincial suburbs have driven New Zealand's property boom, with Manunui up 51.8% and Hargest selling in just six days.
Record-low inventory is pushing New Zealand house prices higher, leaving first-time buyers with fewer affordable options.
Rising lending restrictions and tax changes are already cooling demand, though some agents say Treasury’s flatlining forecast may be too gloomy.
Sales fell 28% in April and the median price eased to NZD $810,000, but analysts say it is too soon to judge the policy impact.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Sales fell by more than 2,500 from March as investors and first-time buyers took a wait-and-see approach to tighter lending rules.
Signs of cooling are emerging as quieter open homes and more auctions passing in are expected to slow gains after a red-hot year.
Investor borrowing has already been curbed, as new housing rules begin to slow sales and cool the market further in 2021.
Investors in Manawatu/Wanganui saw 25.3% capital gains and 4.0% yields, making it the country’s standout residential market.
